Slovenes debate impact of ex-premier’s bribery conviction

Jun 7, 2013 4:19pm by Kester Eddy

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The court verdict that this week found Janez Jansa, the former prime minister, guilty of accepting bribes in the long-running “Patria” procurement scandal surprised many and has further polarised the Slovene population.

For many outside observers, including European Union officials, it was a step in the country’s much-needed fight against corruption. But for Jansa’s conservative faithful, it was a shock – as shown in this video where one ardent supporter outside the courthouse castigates the “crazy judges”.

But will the verdict make any difference to the practical ethics of doing business in Slovenia? Continue reading »

Tags: Slovenia politics, transparency Posted in Global, Slovenia | Permalink

Slovenia: ex-premier Jansa found guilty of taking bribes in arms deal

Jun 5, 2013 1:49pm by Stefan Wagstyl and Kester Eddy

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Slovenia’s former prime minister has been found guilty of taking bribes in a €278m arms deal in the biggest case of alleged corruption to surface in the troubled ex-Yugoslav republic.

Janez Jansa follows two other former premiers in the south east Europe to be convicted of financial wrongdoing, the ex-leaders of Croatia and Romania. Meanwhile in Serbia, the country’s richest businessman was arrested late last year for alleged embezzlement. A long-run campaign by the EU against corruption in its present and future new member states may finally be producing results. Continue reading »

Tags: Sovenia politics, transparency Posted in Croatia, Romania, Serbia, Slovenia | Permalink

How to set up a successful business in Slovenia: do it in Austria [updated]

Jun 4, 2013 4:19pm by Kester Eddy

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It was glum faces in Slovenia last week: not only was it the coldest May since the 1970s, but the month ended with news that the economy had slumped a shocking 4.8 per cent in the first quarter.

What to do? Well, successive governments in Ljubljana have insisted they are working hard to support small business, especially start-ups, to boost the economy and employment. Sounds good but, alas, Slovenes at the coal face tell a different tale. Take Vasja Golar, aged 29, from the small, north-east town of Gornja Radgona. Continue reading »

Tags: Bevog Brewery, bureaucracy, regulation, SMEs Posted in Europe, Slovenia | Permalink

Slovenia: Fitch casts a cloud

May 20, 2013 3:13pm by Kester Eddy

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Unlike much of Catholic Europe, Slovenia opts out of celebrating Whitsun as a public holiday – which is perhaps just as well since the pressure remains on the government of Alenka Bratušek to attend to her country’s economic woes.

The latest turn of the screw has come from credit agency Fitch, which cut Slovenia’s sovereign rating to BBB+ from A-, with negative outlook. Continue reading »

Tags: credit rating, Slovenia economy Posted in Global, Slovenia | Permalink

Slovenia: family silver for sale

May 13, 2013 6:02pm by Kester Eddy

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Question: What’s the link between a national airline, a global-brand ski factory and an organic flour producer?

Answer: none at all, except in Slovenia, where any half-aware citizen would immediately recognise them as state-owned companies being prepared for privatisation to raise the cash to bail out Slovenia’s heavily indebted banks and balance the national budget. Continue reading »

Tags: eurozone, fiscal policy, privatisation Posted in Europe, Slovenia | Permalink

Slovenia’s ratings: why so varied?

May 1, 2013 1:55pm by Rob Minto

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Credit rating agency Moody’s downgraded Slovenia on Tuesday to junk status, citing its weak banking system. After its being so often compared to Cyprus, you might think that’s fair enough.

But the downgrade leaves Slovenia in something of an odd position: it now has the widest range of ratings from the three main agencies out of any sovereign. Why the spread? Continue reading »

Tags: credit ratings, eurozone, Fitch, Moody's, Slovenia economy, Standard and Poor's Posted in Europe, Slovenia | Permalink

Guest post: Baltic solutions for the Adriatic

Apr 10, 2013 1:25pm by beyondbrics

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By Dalibor Rohac of the Cato Institute

Slovenia, once celebrated as the poster boy of central and eastern Europe, is now widely perceived as yet another sick man of the eurozone. With bond yields close to those of Portugal and a Moody’s downgrade for one of the country’s largest banks, rumors of an imminent bailout abound — though vehemently denied by Alenka Bratušek, Slovenia’s prime minister.

To solve their problems, Slovenians should look north, as their woes resemble the afflictions facing the Baltic states only four years ago. Continue reading »

Tags: eurozone crisis, guest post, Slovenia economy Posted in Europe, Slovenia | Permalink

Downhill from here? Slovenia ski resorts cash in on late winter

Apr 3, 2013 3:58pm by Kester Eddy

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Given that the new Slovenian prime minister has had to talk down suggestions that the country is the next Cyprus, Slovenes could do with a boost.

Perhaps in the form of a few extra days skiing this year? The unseasonal arctic conditions have brought fresh snow to the Alpine slopes – and a late boost to ski centres. Continue reading »

Tags: skiing, tourism Posted in Europe, Slovenia | Permalink

Guest post: Slovenia – not as bad as Cyprus?

Mar 26, 2013 12:20pm by beyondbrics

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By Petra Lesjak of KD Funds

Alenka Bratušek became Slovenia’s new prime minister last week, the first female head of government of this Alpine state of 2m people. She could hardly have had a tougher start to the job, as Monday’s last-minute deal to rescue Cyprus left many wondering if Slovenia might be next in the queue for a bailout.

Slovenia needs to refinance approximately €1bn in treasury notes by June. Its banks have a hole in their combined balance sheets of about €4bn. The banks still have liquidity but it is streaming out of deposits that they are paying heftily for – about 4 per cent a year for 12-month deposits. Bratušek and her new government have a lot of work to do. Continue reading »

Tags: Cyprus, eurozone, guest post Posted in Cyprus, Europe, Slovenia | Permalink

CEE: contagion risk from Cyprus?

Mar 21, 2013 6:18pm by Jan Cienski

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The crisis in Cyprus has renewed concerns about the stability of the EU’s emerging markets, potentially ending the region’s recent run of good luck when it comes to market sentiment.

Poland, the Czech Republic and even Hungary have been able to borrow at very low rates, while the region is showing signs that the economy bottomed out towards the end of last year and should recover by the second half of this year. Continue reading »

Tags: CEE, Cyprus Posted in Cyprus, Czech Republic, Europe, Hungary, Poland, Slovenia | Permalink

Guest post: has populist folly finally come to an end in Slovenia?

Mar 18, 2013 12:55pm by beyondbrics

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By Luka Orešković of Provectus Capital

Last week, political change captured the global headlines. Pope Francis took over leadership of 1.2bn Catholics, matched by Xi Jinping, with his official ascendance to the presidency over 1.3bn in the People’s Republic of China. In between Beijing and the Vatican, and somewhat less noticed, the 2m people of Slovenia were also facing a change in government, with the center-right premier Janez Janša set to be replaced by Alenka Bratušek, the center-left head of Positive Slovenia.

With the European Commission forecasting an economic contraction of 2 per cent this year, and increasing talk of a bailout, the new government will face a challenging 12 months. Continue reading »

Tags: bailouts, guest post, Mercator, privatisation, Slovenia economy, Slovenia politics Posted in Europe, Slovenia | Permalink

Slovenia faces two nerve-racking weeks

Feb 28, 2013 5:16pm by Kester Eddy

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Slovenia’s political crisis has moved into a new phase after parliament ousted the centre-right government of prime minister Janez Janša and gave Alenka Bratusek (pictured), acting leader of the centre-left Positive Slovenia party, two weeks to win parliamentary approval for a new cabinet.

While the move creates an opportunity for Bratusek to forge the political stability Slovenia needs to tackle its mounting economic difficulties, there’s no guarantee of success. As Citigroup said in a note, “the key game-changer for the current political stalemate will be the formation of a new government.” Continue reading »

Tags: Slovenia economy, Slovenia politics Posted in Europe, Slovenia | Permalink

Slovenia’s Elan: a double-edged ski

Dec 20, 2012 12:26pm by Kester Eddy

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When Slovene partisan fighters needed skis to battle the occupying Nazi forces in World War II, there was but one solution: make them themselves, secretly, from wood. Some 70 years later, as a result of this initial, brave determination, the village of Begunje, nestled in the Alpine foothills about 35 miles north-west of Ljubljana, is the unlikely setting for the world’s largest ski plant.

Elan, the Slovene winter-sports company, produces 500,000 pairs of skis annually in Begunje, roughly one in seven of all skis worldwide – with 300,000, or 8.5 per cent of the global market, under its own name. Continue reading »

Tags: Corporate watch, innovation, sports Posted in Europe, Slovenia | Permalink

Guest post: Slovenia’s protests bode well for future

Dec 11, 2012 9:15am by beyondbrics

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By Primož Cencelj of KD Funds, Ljubljana

News clips broadcast around the world in the past fortnight of police and protesters clashing violently on the streets of Slovenia do not fit well with either the image nor the usual reality of this small Alpine state, the only fragment of former Yugoslavia (so far) to become a member of the European Union. Continue reading »

Tags: austerity, guest post, politics, reform, Slovenia politics Posted in Europe, Slovenia | Permalink

Slovenia: opposition win could ease economic policy tensions

Dec 3, 2012 12:26pm by Stefan Wagstyl

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Slovenia’s president Danilo Turk has become the latest European politician to be voted out of office amid tension over the handling of the eurozone crisis.

Turk was defeated in Sunday’s presidential election by the opposition candidate Borut Pahor, the former prime minister, who followed his surprising lead in the first round with a sweeping victory in the second, taking 67 per cent of the vote against Turk’s 32 per cent. Continue reading »

Tags: Boru Pahor, Danilo Turk, politics, Slovenia politics Posted in Europe, Slovenia | Permalink

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