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12/17/12

Slovenia - back to reality, forth to austerity

For years, Slovenia was seen as a model among the nascent EU members. But now the former Yugoslav republic is faced with a serious recession and high debt. It may soon be the next duck in an unpopular pond. 

A specter is haunting Slovenia - the specter of the European Stability Mechanism.

Prime Minister Janez Jansa has warned his people straight out that if the reforms and austerity measures proposed by his conservative government aren't implemented, a "national bankruptcy" would be unavoidable - as would a bailout.

"Any Slovenian government you can imagine will be more social than what the troika will impose upon us," were the words echoing out of Ljubljana earlier this month, when the government introduced its austerity budgets for the next two years.

Read more: Slovenia - back to reality, forth to austerity | Europe | DW.DE | 17.12.2012

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