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Slovenia Working on Plan to Avoid EU Bailout

The government of Slovenia is due to unveil an economic action plan that it hopes will help it avoid an EU bailout.

The plan, which will be presented to the European Commission, is expected to include tax increases, banking sector reforms and privatisations.

Slovenia’s mostly state-owned banking sector is suffering from mounting bad debts and the government has struggled to borrow money.

The country’s economy has been in recession since 2011.

Analysts have cited Slovenia as the most likely country to seek help from the EU following the bailout of Cyprus earlier this year.

European officials have expressed concern over the stability of the country’s banking sector.

The government’s ability to borrow money was dealt a blow last week when Moody’s, a ratings agency, cut Slovenia’s bonds to “junk” status.

via BBC

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Alfonso Esparza

Alfonso Esparza [5]

Senior Currency Analyst at Market Pulse [6]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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