Bloomberg News

Jansa Says Partners Must Decide on Slovenia Cabinet Fate

January 18, 2013

The Slovenian Democratic Party of Prime Minister Janez Jansa, under fire from accusations he hid private assets, called on its coalition partners to cease pressure for him to step down or face the government’s collapse.

“It’s not our turn to act,” the ruling party, known as the SDS, said on its website in Ljubljana today. “Instead, those who are announcing the fall of the coalition and the government at a critical time for Slovenia should answer whether they will continue with their destructive behavior for the country or will ultimately turn to reason.”

The Citizens List, led by Parliamentary Speaker Gregor Virant, gave Jansa 10 days from Jan. 12 to say if he will quit after the anti-corruption agency said he failed to declare private assets, increasing the risk of an early vote. Other partners in the five-member coalition also called for his resignation.

The Slovenian government, in power since February 2012, passed measures to overhaul the economy, including the creation of a “bad bank” that is meant to clean banks’ balance sheet, aid the economic recovery and avoid seeking international assistance. The economy, which slid in its second recession in three years, is set to shrink an annual 1.6 percent, Moody’s Investors Service said in a report yesterday.

The yield on the notes maturing in 2022 was little changed today at 4.981 percent at 1:07 p.m. in Ljubljana after climbing to a four-week high yesterday, according to data compiled by Bloomberg.

Slovenia plans to sell as much as 3 billion euros ($4 billion) of debt this year, including again tapping the U.S. debt market after the sale of a $2.25 billion bond in October. The funds would be used to repay maturing debt, finance the budget and recapitalize the banking industry, Deputy Finance Minister Dejan Krusec said on Jan. 15.

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

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


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