Not immediately, but I think it's a better way to register your dislike for an institution rather than voting for a party upon which you may only agree that single policy (but your vote helps them indiscriminately, whether they're trying to disengage from that institution or pass laws against homosexuals, for ex). It's hard, for example, to suggest that the EU Parliament has much of a mandate to pass laws that have reach in Slovakia.
Why dont you deliberately spoil your vote instead?
I have only done it once myself but spoiling my vote by writing "all useless turds" on my ballot paper, said alot more than giving the impression I was to lazy to go and vote (it also felt good)