Despite the further problems with their banks and the recession, Slovenia is determined not to become the sixth member of the eurozone, which will require international assistance.
As the senior officials of that country said , Slovenia will improve the state of its financial sector without external assistance.
Slovenia, which. adopted the euro in 2007 has raised concern that it could become the next member of the eurozone, which will require international support for the difficult situation in the state-owned banks.
Three Slovenian creditors – New Ljubljana Bank, NKB Maribor and Abanka Vip – control most of the Slovenian financial sector, but they are “overwhelmed” with about 7.5 billion euros of risky loans, which equals about one-fifth of national gross domestic product (GDP) .
This has exacerbated the economic problems in the country, as new loans have become difficult to get for Slovenian companies .
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“The inflow of money for new projects or for normal business activities of the companies has almost ceased five years. The key thing for improval is that, on the one hand, cleans the balance sheets of banks, and on the other hand, to restructure the corporate debts “said Slovenian Finance Minister Uros Čufer.
When asked whether Slovenia will seek external assistance from the European Central Bank and the European Union, Čufer said: “I think that it will not be necessary,” and he added that his country has enough money to April, when its five-year bonds in the amount of 1 , 5 billion euros ,are ready for payment..
