The Slovenia Times

FinMin Critical of EU-Wide Deposits Guarantee Scheme


He underlined after the informal finance ministerial in Luxembourg on Saturday that the primary objective was to implement and strengthen existing instruments and institutions. Only then it would be sensible to consider new ones.

"Too great a rush could lead to duality and excessive loads," he said, adding that Slovenia is not the only member state with such a position.

The finance minister added that all member states wanted to simplify the existing fiscal, financial and economic rules.

Mramor was moreover critical of the structural effort methodology, which has been labelled as a "black box" also by Eurogroup president Jeroen Dijselbloem. Slovenia's minister said it was practically impossible to "pursue a smart economic policy" with this methodology.

The minister also touched on the refugee crisis, the financial effects of which have been discussed by the EU finance ministers.

"The figures alarming," he said, but refused to reveal any numbers, as the estimates are still very rough. The minister added that Slovenia would keep in mind the estimates when working on the budget for 2016 and 2017.

The financial and economic effects of the crisis could be either positive or negative, depending on how strong the receiving country is, he said.

It could be positive for countries with strong economy and an ageing population, such as Germany. It is however hard for countries that do face demographic issues but are still in the phase of fiscal consolidation, such as Slovenia. He believes that this challenge came "four years too early" for Slovenia.


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