News Roundup – Wednesday, 10 April, until 3 PM
Ljubljana, 10 April (STA) – Below is a roundup of major events on Wednesday, 10 April, until 3 PM local time:
LJUBLJANA – The European Commission warned Slovenia of excessive macroeconomic imbalances related foremost to the high indebtedness of companies, calling for immediate action to deal with the problem. The in-depth review of the macroeconomic state of 13 problematic EU members found excessive imbalances only in Slovenia and Spain. The country must lay out a comprehensive strategy for dealing with the imbalances in its budget and reform plans due in Brussels by early May.
CELJE – The Celje District Court sentenced ex-boss of bankrupt builder
Vegrad Hilda Tovšak to two years in prison after she pleaded guilty of
fraud and misappropriation of funds yesterday. Tovšak was tried for taking
EUR 220,000 for the firm from a solidarity fund into which Vegrad workers
used to pay part of their income for their co-workers in distress. Tovšak
is party to several other court proceedings related to Vegrad and is
currently in detention over a bribery case.
WASHINGTON, US – The Institute for International Finance, a
Washington-based association of large banks, suggested in a report
published on Tuesday that Slovenia should get “precautionary credit
assistance” from the European Stability Mechanism to avert a potential
bailout. The IIF estimates the government’s funding shortfall could be
between EUR 9.3bn and EUR 11.8bn over 2013-2015, depending on the severity
LJUBLJANA – A report by the Institute of Macroeconomic Analysis and
Development found that the growth in minimum wage outpaced overall wage
growth for the fourth year in a row in 2012. At EUR 783.66 gross, Slovenia
has the seventh-highest minimum wage among the 19 EU members which have
statutory minimum wages. In January 8.3% of all employees received minimum
wages. An Eurostat report meanwhile showed that Slovenia’s hourly labour
costs grew by 6.9% in 2008-2012, below the eurozone and EU average.
LJUBLJANA – Industrial output in Slovenia rose by 3.4% in February over the
same month last year. The monthly increase also stood at 3.4%, while the
total output for the first two months of the year was up 0.8% on the first
two months of 2012, according to data from the Statistics Office.
BRDO PRI KRANJU – The Foreign Ministry hosted a regional meeting dedicated
to the UN “Responsibility to Protect” initiative, one of two events
focusing on the topic held in Slovenia this week. The conference was also
attended by Adama Dieng, special adviser of UN secretary general on the
prevention of genocide. The initiative aims to create a set of norms based
on the idea that sovereignty is a responsibility, with a view to stopping
genocide, war crimes, crimes against humanity, and ethnic cleansing.
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