The Slovenian Parliament approved on the expanded powers of the European Financial Stability Facility (EFSF) in order to provide further support to Greece and to overcome the debt crisis once and for all.

The parliament vote result was 49 against 4 votes on the expansion proposal agreed on back in July by European leaders, in addition, Slovenia will now handle 3.7 billion euros compared with the prior of 2.1 billions of the overall 440 billion bailout fund as reports mentioned.

The main focus remains on Germany and Finland, which are to vote on the expanded powers this week.

Moody's, the rating agency, downgraded Slovenia's credit rating by a notch to Aa3 and expressed that further downgrade is possible due to rising concerns regarding the weak banking system, which should be supported by the government.