Bloomberg News

Slovenian Lawmakers to Hold First Session After Vote on Dec. 21

December 16, 2011

Dec. 16 (Bloomberg) -- Slovenian lawmakers will meet Dec. 21 for the first time since Ljubljana Mayor Zoran Jankovic won a snap election as the nation struggles to tackle rising debt to stave off a downgrade of its credit rating.

President Danilo Turk will convene parliament after he received official voting results from the election commission today, Bostjan Lajovic, the president’s spokesman said by phone in Ljubljana. After consulting party leaders, the president will give a mandate to the leader that “is most likely to form the government, probably by year’s end,” he said.

Jankovic’s Positive Slovenia won 28 seats in the 90-member assembly, while the Slovenian Democratic Party of Janez Jansa will have 26 lawmakers, according to the final results by the state election commission. Jankovic is seeking support from other groups to gain more than a 45-member majority.

Slovenia’s next government will need to tackle rising debt, a possible recession and the threat of a downgrade from Standard & Poor’s and other ratings services. S&P said Dec. 5 it may lower the credit score of 15 members of the euro region after assessing measures adopted by European leaders in Brussels on Dec. 9 to contain the sovereign debt crisis.

The new Cabinet will also need to decide on Slovenia’s share of the 200 billion euros ($260 billion) that euro-region nations pledged to the International Monetary Fund at the Brussels summit.

“Banka Slovenije, in principle, supports the increase of funds to the IMF even though we have second thoughts on sharing the burden in new quotas as the proposed amount is disproportionally high,” the central bank in Ljubljana said in an e-mailed response to questions. The bank declined to specify the amount Slovenia will need to contribute.

--Editors: Alan Crosby, James Gomez

To contact the reporter on this story: Boris Cerni in Ljubljana, Slovenia, at bcerni@bloomberg.net

To contact the editor responsible for this story: James Gomez at jagomez@bloomberg.net


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