Titoli di Stato area Euro SLOVENIA - Operativo titoli di stato

[tommy271]

Slovenia: Jansa, mancano soldi per risarcire 'cancellati'

Corte Strasburgo ha condannato Lubiana per discriminazione

29 giugno, 11:12




(ANSAmed) - LUBIANA, 29 GIU - La Slovenia non ha i soldi per risarcire tutti quei suoi abitanti, circa 25 mila persone originarie delle altre ex repubbliche jugoslave, alle quali nel 1991, al momento della proclamazione dell'indipendenza, Lubiana tolse la residenza proclamandoli ''stranieri'', meglio conosciuti come ''cancellati''.

Lo ha affermato il primo ministro, Janez Jansa, commentando il verdetto della Corte per i diritti dell'uomo di Strasburgo che mercoledi' ha condannato la Slovenia per discriminazione.

''Lo Stato non ha soldi neanche per le spese strettamente necessarie'', ha aggiunto il premier sloveno.

La Corte di Strasburgo ha dato ragione in seconda istanza ai ''cancellati'' decretando che i non-sloveni ai quali nel 1991 e' stata negata la cittadinanza o il permesso di soggiorno, benche' vivessero in Slovenia da molti anni, sono cosi' rimasti senza i diritti sociali e lavorativi.

Secondo Amnesty International, dei 25 mila ''cancellati'' nel 1991 dal registro degli abitanti della Slovenia, ''ancora 13 mila sono privi di un qualunque status e vivono in condizioni sociali e materiali precarie''.

Alcuni esperti hanno calcolato che gli indennizzi potrebbero costare allo Stato sloveno circa 500 milioni di euro. Il timore dell'alto costo dei risarcimenti era risultato cruciale anche al referendum tenutosi nel 2004, quando i cittadini sloveni respinsero una legge che prevedeva la restituzione ai ''cancellati'', perlopiù bosniaci, serbi e kosovari, di alcuni diritti sociali derivanti dalla residenza.

 

[tommy271]

Slovenia Heads for Euro-Area Bailout Request to Aid Banks - Businessweek

 

[tommy271]

NLB Wins Temporary European Union Approval for Slovenia Bailout


By Aoife White - Jul 2, 2012 11:45 AM GMT+0200





Nova Ljubljanska Banka d.d., Slovenia’s biggest lender, won temporary European Union approval to receive 382.9 million euros ($484 million) from the country’s government.

The European Commission also opened a probe into the bank’s restructuring plan, citing doubts that it addressed the causes of its distress or had sufficient safeguards to limit harm to competition. EU regulators must check that state subsidies won’t damage a bank’s rivals or customers.

The commission commented in an e-mailed statement.


To contact the reporter on this story: Aoife White in Brussels at [email protected].

 

[tommy271]

EC temporarily approves a second recapitalisation in favour of Slovenia's NLB



http://www.balkans.com/#


European Commission Press - 03.07.2012


The European Commission has temporarily approved, under EU State aid rules, an additional capital injection of €382.9 million to Nova Ljubljanska Banka Group (NLB) for reasons of financial stability. At the same time, the Commission has opened an in-depth investigation into the bank's restructuring plan that was submitted after the first recapitalisation (see IP/11/264). At this stage, the Commission has doubts that the plan adequately addresses the causes for NLB's distress or foresees sufficient safeguards to limit the distortions of competition created by the state support. The opening of an in-depth investigation gives interested third parties the opportunity to comment on the measures under examination; it does not prejudge the outcome of the investigation.

Slovenia has notified plans to subscribe €320 million of contingent convertible instruments (type of hybrid instruments) and to inject €62.9 million in common equity in order to improve the capital of NLB so that the bank complies with the European Banking Authority stress test requirements. The Commission assessed the aid under its temporary rules applicable to banking recapitalisations during the crisis (see IP/08/1901) and found them appropriate, necessary and proportionate. The Commission has therefore approved them for six months, to give NLB and Slovenia time to submit an updated restructuring plan, taking due account of this additional state support.

The Commission also opened an in-depth investigation into NLB's restructuring plan which Slovenia had to submit for the bank after the Commission approved the first capital increase (see IP/11/264). Based on the information in its possession, the Commission, at this stage, has doubts whether the proposed measures will enable the bank to become viable without continued state support. Moreover, the Commission has concerns that the bank's own contribution to the costs of restructuring may be insufficient. Finally, the Commission needs to verify that the plan foresees appropriate safeguards to limit the distortions of competition brought about by the state support.

Background

NLB is the largest Slovenian bank that holds one third of the total assets in the Slovenian banking sector. The majority shareholder in the bank is the Republic of Slovenia and the second biggest is the Belgian bank KBC.

In March 2012, the Commission already approved state support when the bank issued €250 million of ordinary shares. Although the equity was raised through a public offering, in the absence of private investors' interest, the State subscribed to the majority of the stake.

The non-confidential version of the decisions will be made available under the case numbers SA.34937 and SA.33229 in the State aid Register on the competition website once any confidentiality issues have been resolved. New publications of State aid decisions on the internet and in the Official Journal are listed in the State Aid Weekly e-News.

 

[tommy271]

La Slovenia può diventare il sesto Paese dell'eurozona ad aver bisogno di aiuti




Redazione Online
3.07.2012, 16:35




La Slovenia può diventare il sesto Paese dell'eurozona che richiederà aiuti economici in relazione alla crisi del settore bancario: questo è il parere espresso dagli economisti interpellati da Bloomberg.
Inizialmente avevano chiesto prestiti alle strutture europee la Grecia, il Portogallo, l'Irlanda, la Spagna e Cipro.
Ieri la Commissione Europea aveva approvato la concessione di un pacchetto di aiuti alla seconda più grande banca slovena Nova Ljubljanska Banka di quasi 390 milioni di euro.
Il debito pubblico della Slovenia è al 50% del PIL, registrando così un incremento di oltre la metà dopo l'introduzione dell'euro nel 2007.

(La Voce della Russia)

 

[tommy271]

Slovenia Central Bank Urges Lenders to Fund Economy


By Boris Cerni - Jul 3, 2012 4:41 PM GMT+0200


Slovenia’s central bank urged lenders in the country, including Nova Ljubljanska Banka d.d. and Nova Kreditna Banka Maribor (KBMR) d.d., to accelerate funding of the economy or risk seeing companies seeking credit outside the country.

The central bank “expects banks to speed up lending to the credit-worthy companies, otherwise there is a danger that such companies will seek debt directly from abroad,” the Ljubljana- based Banka Slovenije said in an e-mailed statement today.

In May, lending to the non-banking sector of the economy shrank an annual 4.8 percent on declining loans to both companies and households, it said.

Slovenian banks, which rely on loans from the European Central Bank, are restricting credit to the economy due to limited wholesale funding and because they are setting aside record reserves to cover bad loans.

The country’s export-dependent economy is on the brink of its second recession in three years as austerity measures at home and in Europe damp demand.

Net interest income declined 8.1 percent in May from a year earlier while cost of asset writedowns increased by 27 percent in the same period, the central bank said. The banking industry had a total pretax loss of 45.7 million euros ($57.5 million) in the first five months of 2012, it said.



To contact the reporter on this story: Boris Cerni in Ljubljana at [email protected]

 

[tommy271]

Belgian KBC bank pushes Slovenia towards bailout



Published 04 July 2012





Slovenia appears to be on its way to becoming the sixth eurozone country to request an EU bailout as it seeks to prop up its struggling banking sector, including the country’s largest bank that is partly owned by Belgium’s KBC.

A European Commission spokesman said yesterday (3 July) that the EU executive had not received an official request for help from Slovenia and that it had nothing to add to the financial recommendations made to Slovenia in May (see background).

Bloomberg quoted Michal Dybula, an economist at the BNP Paribas, as saying it was “increasingly likely” that Slovenia would be the next eurozone country asking for a bailout to prop up the banking sector.

If so, Slovenia, the first post-communist country to have adopted the euro, would join Greece, Ireland, Portugal, Spain and Cyprus in the bailout camp.

Slovenia’s predicament reportedly stems from the financial difficulties of Nova Ljubljanska Banka (NLB), the country’s largest bank.

Eurozone leaders agreed at an October 2011 summit on a plan to recapitalise banks, under which they were required by 30 June 2012 to have 9% of the highest quality capital measured against liabilities.

The difficulties appear to have arisen after KBC, the Belgian bank that owns 25% of NLB, abandoned plans to buy new shares in an aborted deal in which it would have provided funds for recapitalisation.

The rest of the bank is state-owned and the country, already under deficit procedure, finds it difficult to fund the effort.
Slovenia's budget deficit soared to some 5.5% of GDP in 2011 from a balanced budget in 2007 because of lower tax income and high government spending.

According to some reports KBC decided not to acquire new shares, as it was not sure if the European Commission would approve the move. KBC did not respond to EurActiv's e-mail requests for a response.

In 2008 KBC suffered heavy losses and received Belgian government support a year later. As a condition for the support, it committed to sell several subsidiaries.

Antoine Colombani, spokesman for Competition Commissioner Joaquín Almunia, said that in the recapitalisation of NLB, the Commission is in charge of ensuring the state support granted complies with EU state aid rules.


A ‘specific situation’


The specific situation of this case, however, is that KBC has also been receiving substantial amounts of state aid and as a result has obligations under a restructuring decision taken by the Commission in November 2009, he explained.

The restructuring plan for KBC approved by the Commission includes the divestment of a number of assets. In particular KBC's stake in NLB must be divested by 31 December 2012. In a meeting requested by KBC, Almunia informed the Belgian company that it still needs to comply with this decision.

Almunia also reportedly told KBC that if they wanted to extend their participation into NLB beyond 2012, they should then propose compensatory measures, in terms of an equivalent divestment is offered in compensation. KBC has already used such a scheme with respect to divestment of its acquisitions in other Central and Eastern European countries.

Despite this possibility, KBC announced its withdrawal from the recapitalisation of NLB.

The Slovenian authorities then told the Commission that they would find an alternative way to recapitalise NLB, with an additional capital injection of €382.9 million, a huge sum for the small country. The Commission temporarily approved this recapitalisation, but also launched an in-depth investigation on the restructuring plan of the bank.

Slovenian Prime Minister Janez Janša said on 27 June that the country risks a “Greek scenario”. Two days later, he told journalists in Brussels at the EU summit that the government was “doing everything to find a solution” and was seeking to avoid the need for assistance.


***

After the publication of this article, KBC sent its statement announcing the bank’s decision not to subscribe to the capital increase of NLB.

“As a responsible shareholder, KBC has always acknowledged the importance of a sound capital base for NLB. Consequently, KBC has remained in close and intense discussion with the Slovenian government and the National Bank of Slovenia regarding NLB's capital position over the last months and days and it has voted in favor of the short term capital solution proposed by NLB and the Republic of Slovenia at last Wednesday’s annual shareholders’ meeting.
“Still, any decision by KBC to support the capital position of NLB, should be value preserving for KBC and supportive of a value creative long term strategy and business plan for NLB.
“Every decision taken by KBC should also be in line with the strategic plan KBC agreed with the European Commission. In this strategic plan, KBC repeated that its non-strategic stake in NLB was earmarked for divestment.
“After very careful and thorough consideration of all the elements mentioned above and in consultation with all relevant parties, KBC has today decided not to participate in the short term capital solution proposed by NLB and the Republic of Slovenia,” the statement concludes.

(EurActiv.com)

 

[tommy271]

Quirinale/ Napolitano in visita in Slovenia 10 e 11 Luglio

Incontri con Turk accompagnato da Terzi




Roma, 4 lug. (TMNews) - Il Presidente della Repubblica, Giorgio Napolitano, accompagnato dal Ministro degli Affari Esteri, Giulio Terzi di Sant'Agata, effettuerà una visita di Stato nella Repubblica di Slovenia dal 10 all'11 luglio prossimi su invito del Presidente Danilo Türk.

Il colloquio tra i due Capi di Stato consentirà di discutere le più importanti questioni delle relazioni bilaterali e dell'agenda europea e internazionale.
Lo ha reso noto la Presidenza della Repubblica.

 

[tommy271]

Slovenia still targets bond despite bank woes


By John Geddie
Wed Jul 4, 2012 3:14pm IST






LONDON, July 4 (IFR) - The Republic of Slovenia (A2/A+/A) said it still intends to tap the international bond markets this year despite nagging concerns over the health of its banks.

The confirmation follows an investor update on Tuesday to discuss government reforms and recent support for its largest bank Nova Ljubljanska Banka Group (NLB).

"We are still planning on coming to the market this year but it all depends on the circumstances," said Bostjan Plesec, director general of Slovenia's Treasury Directorate.

Slovenia pulled a planned euro-denominated issuance in April, which followed an investor roadshow arranged by BNP Paribas, HSBC, JP Morgan and Societe Generale.

At the time Fitch said Slovenia had one of the weakest banking markets in Central and Eastern Europe due to rising non-performing loans.

Slovenia has just EUR700m left to fund its budget deficit before the end of the year. Plesec said it could do this through its T-Bill programme or domestic bank borrowing but its preference would be for longer maturities available in the syndicated bond market.

EU competition regulators temporarily cleared a EUR383m capital boost for NLB on Monday and will study a revamp plan for NLB to ensure it addresses the bank's problems and does not give an unfair advantage.

Slovenian authorities plan to inject more capital into NLB to meet EU solvency requirements after Belgian shareholder KBC decided not to subscribe to a new share issue. The European Commission said the capital infusions complied with EU state aid rules.

(Reporting By John Geddie; editing by Alex Chambers)

 

[tommy271]

‘Tra i malati d’Europa c’è anche la Slovenia’ - rivista italiana di geopolitica - Limes