The FT’s Peter Spiegel has the latest take on Slovenia this afternoon, highlighting the fractiousness of the country’s internal politics:
According to two senior eurozone officials, concerns have focused on “non-cooperation” between Slovenia’s finance ministry and central bank, which is responsible for supervising the financial sector. One of the officials said the central bank was being “obstructionist” towards the new government’s clean-up efforts. … Read more
Just as your risk of a dodgy bailout is determined by your size so too, perchance, is your risk of an odd ratings action. On Tuesday Slovenia’s credit rating was junked by Moody’s, forcing it to call off a planned US dollar debt sale.
Those we have talked to are pretty baffled by this one. Not only does the timing seem strange but the critiques leveled are questionable (more on that below) particularly when you take into account the depth of the cut from Baa2 to Ba1. Read more
So people are wondering if Slovenia will be the next eurozone crisis focal point. I can find Slovenia on a blank map, so we’re off to a good start. But how about some background?
Stop me when this sounds familiar. Read more
Small but beautifully shaped country seeks bond investor for long term relationship. Must be open-minded about banking crises and like walks along the Adriatic coast.
Slovenia was in the market on Friday — with $2.25bn of bonds. That’s greenbacks, not euros, despite belonging to the currency union. Read more