Slovenian Bankruptcy Would Hit Austria Particularly Hard

People ♦ Published: September 3, 2012; 15:28 ♦ (Vindobona)

Prime Minister Janez Jansa announced that Slovenia may have to declare its national bankruptcy in October. Austria´s share in foreign direct investment made in Slovenia reaches about 50%.

Slovenian Bankruptcy Would Hit Austria Particularly Hard / Picture: © Vindobona.org

According to Prime Minister Jansa, a failed emission of Slovenian sovereign bonds in October or November may trigger the national bankruptcy. The Slovenian state intends to issue bonds worth € 2.0bn. At the moment, taking up loans is almost impossible, Jansa said. In 2013, Slovenia must refinance about € 2.0bn.

Christian Miller (Austrian Chamber of Commerce) explains that…

or Log In

Fast News Search
Related News
Slovenia in a Vicious Circle (August 31, 2012)
Economic Crisis: Croatians are Pessimistic (August 24, 2012)
NKBM Suspected of Money Laudnering (August 23, 2012)
Uniqa Interested in NKBM´s Insurance Subsidiary (August 21, 2012)
Slovenia to Establish a Bad Bank (August 14, 2012)
Read More
Slovenia, IMF International Monetary Fund, EU European Union, Foreign Trade, Exports, Banking Industry, Public Debt, Budget Deficit, Economic Growth, GDP Gross Domestic Product, Janez Jansa, Consumption, Industrial Production, ECB European Central Bank
Featured
See latest Vindobona Newsletter