20 September 2011

SLOVENIA : PM Pahor Loses Confidence Vote; New Election Must Be Held; Rescue Fund Faces Delay.

                                       BLOOMBERG

      Prime Minister Borut Pahor (above) is on his way out...after the parliament voted 51-36 to oust him.
     A new general election must be held...probably in December.
    Pahor's defeat may also postpone a vote to back the the EU rescue fund.
    "An eventual delay in Slovenia would slow the whole ratification process, since Slovakia, where one of the ruling parties opposes a more powerful EFSF, has already made it clear that it wants to be the last eurozone member to vote on the issue,” wrote economist Michal Dybula.
     Pahor's government has struggled to improve economic growth since taking office in 2008.
     GDP grew by 0.9% in Q2...down from 2.3% in Q1.