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05 April 2013
SLOVENIA / ECB / IMF : Is It Bank Bailout-Out Time In Ljubljana?
Since converting to capitalism...the politicians in Ljubljana have steadfastly refused to privatize their state owned banks.
They allowed a spending spree...often to associates and friends.
Now...the state banks need new capital after many loans went sour...but the state has no money.
In 2012...14.4% of all bank loans were non-performing...and banks hold more than 7 billion euros in non-performing loans.
The nation's sovereign borrowing costs are now above 6%...nearing the dangerous 7% level.
So...taxpayers are on the hook...and they are angry about corruption and continued austerity.
Is a bank bailout by the dreaded Troika imminent for Ljubljana?
http://www.reuters.com/article/2013/04/05/us-slovenia-bailout-insight-idUSBRE9340I520130405