Finance Minister Assures Rehn Slovenia Not in Need of Aid
Rehn got the minister's assurance in the telephone conversation last weekend that despite media reports and speculation about Slovenia being next to ask for international aid the country did not plan the move, the commissioner's spokesperson Simon O'Connor said.
The issue is not on the agenda of today's meeting of the eurozone, Šušteršič said as he arrived to the meeting. "There is no need to panic about Slovenia," he said.
Responding to statements from the EU that the speculations about Slovenia's possible request for aid were brought about by "clumsy communication", Šušteršič said that the government may had been "slightly clumsy and too honest" in communicating on the situation, which financial markets had used for speculations.
The government merely wanted to say that in a time of crisis one cannot be 100% certain about anything, according to the minister. He noted that some countries had been claiming until the last minute that they would never ask for help and then did it overnight.
Commenting on the latest surge of the yields on Slovenian ten-year bonds despite all the assurances that Slovenia will not ask for aid, Šušteršič said that maybe an assurance would also need to come from the eurozone.
But the minister expects the situation to calm down in a matter of weeks.
Fiscal consolidation is being carried out, the state has done a lot to secure capital adequacy of Slovenia's biggest bank NLB, a capital increase in the bank has been carried out, the second biggest bank NBKM will also undoubtedly be recapitalised, he said.
The minister also met Commissioner for Competition Joaquin Almunia in Brussels today, Antoine Colombani, the spokesperson of Almunia said.
The pair discussed steps that will follow the recapitalisation of the state-owned NLB bank.
After the EUR 382.9m capital injection in Slovenia's biggest bank was temporarily approved by the Commission, Slovenia must submit an updated restructuring plan for NLB.