Slovenia Too May Ask for Eurozone Bailout

World | July 3, 2012, Tuesday // 09:54
Bulgaria: Slovenia Too May Ask for Eurozone Bailout Prime Minister Janez Jansa has warned that Slovenia risks a "Greek scenario." File photo

Slovenia may become the sixth Eurozone country to seek an international bailout, according to economists.

The country is assessing the fiscal burden of covering the liabilities of its financial industry after Nova Ljubljanska Banka d.d., the largest bank, got a capital boost.

On June 27, PM Janez Jansa warned that Slovenia risks a "Greek scenario." Two days later, he declared that his government was "doing everything to find a solution" and avoid the need for assistance.

"It's increasingly likely that Slovenia will be the next small economy asking for a European Union bailout, which would be focused on the banking sector," Michal Dybula, an economist at BNP Paribas SA (BNP) in Warsaw, has told Bloomberg.

Cyprus and Spain applied for financial assistance last Monday. Greece, Ireland and Portugal and were also forced to seek financial aid after their borrowing costs surged.

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Tags: Nova Ljubljanska Banka, Eurozone, bailout, Slovenia

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