VLADA - Press Releases http://www.vlada.si/ Press Releases en VLADA - Press Releases http://www.vlada.si/typo3conf/ext/tt_news/ext_icon.gif http://www.vlada.si/ 18 16 Press Releases TYPO3 - get.content.right http://blogs.law.harvard.edu/tech/rss Thu, 16 May 2013 14:52:00 +0200 The Government discussed austerity measures agreed with public sector unions http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/the_government_discussed_austerity_measures_agreed_with_public_sector_unions_38861/ Ljubljana – At today’s regular session, the Government of the Republic of Slovenia discussed additional measures targeting wages and other labour costs in the public sector in order to achieve greater fiscal balance from 1 June 2013 to 31 December 2014. 
The agreement was reached via intensive negotiations with public sector unions, and approved and initialled by representatives on Tuesday, 14 May 2013. It will enable the implementation of measures targeting the public sector, which are also included in the Stability Programme, which the Government forwarded to the European Commission last week. 
The measures negotiated by the Government and public sector unions refer to: 
- new pay scales for the period between 1 June 2013 and 31 December 2014
- lower contributions to voluntary pension insurance 
- setting holiday pay according to the pay scale
- freezing promotion to higher pay brackets and freezing regular bonuses
- lowering the allowance for higher-education qualifications
- lowering the sick pay allowance 
- permanent elimination of special allowance for women based on years of employment 
- reducing public sector personnel by one per cent a year 
By implementing these measures, Slovenia will save 109 million this year alone, and 183 million next year. However, as a bundle of measures targeting the public sector was already adopted in 2012, the total funds saved will be 190 million euros in 2013, and 260 million euros in 2014. 
The agreed measures will be discussed by the National Assembly (scheduled on 21 May) and should be enforced from 1 June 2013. 
]]> Government Session http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/the_government_discussed_austerity_measures_agreed_with_public_sector_unions_38861/ Thu, 16 May 2013 14:52:00 +0200 8th Government session: Government adopts the National Reform Programme 2013-2014 and Stability Programme http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/8th_government_session_government_adopts_the_national_reform_programme_2013_2014_and_stability_prog/ The Government adopts the National Reform Programme 2013-2014 At today's session, the Government of the Republic of Slovenia adopted the National Reform Programme for 2013-2014 and authorised the Ministry of Finance to refer it to the European Commission. The National Reform Programme is the Government’s mid-term plan defining priority measures and projects aimed at realising the objectives defined in the Europe 2020 growth strategy. The document forms the main part of the European semester, the content of which is linked to the stability programme. In accordance with the rule on economic governance, the National Reform Programme adheres to the priorities adopted in the 2013 Annual Growth Survey and includes Slovenia’s response to specific recommendations made by the European Council in June 2012. The programme also includes crucial measures which, among others, the Government plans to implement as a priority to re-start growth while considering the existing macro-economic basis and limitations imposed by the second priority, fiscal consolidation. Attachments to the Programme also include the reports required by the European Commission on measures taken under the 2012-2013 NRP, i.e. concrete planned or implemented measures which respond to specific recommendations to Slovenia within the 2012 European semester. The key economic policy measures of the National Reform Programme are based on the following assumptions:
  • Slovenia has sound macro-economic foundations.
  • Slovenia faces macro-economic imbalances, including over-indebted companies and toxic loans in banks
  • The household sector is among the least indebted in the EU, and public debt is below the EU average
  • Slovenia also suffers from institutional deficiencies in the decision-making process, which impede its ability to respond swiftly, decisively and effectively to changes in the environment.
In order to re-start economic growth, Slovenia will have to eliminate these deficiencies and imbalances. Imbalances in the Slovenian economy are manageable and can be eliminated with the right combination and schedule of measures. Redressing the imbalances will provide for conditions that will enable growth and job creation. To re-start growth, Slovenia will take measures to overhaul the banking system and reduce company indebtedness. The economic policy goals are defined within three key pillars:
  1.  Institutional reforms of decision-making processes
  2. Measures to re-start short-term economic growth
  3. Improving competitiveness for long-term sustainable growth
Institutional changes are crucial to strengthening the fiscal framework with clear rules to encourage fiscal discipline, the reform of referendum and electoral legislation and to corporate management. Short-term measures to re-start growth include measures to overhaul the banks, reduce debt and restructure companies, improve corporate management and strengthen the privatisation process. The measures to achieve fiscal balance are presented in greater detail in the Stability Programme 2013-2014, and include measures to lower the fiscal deficit and stabilise government debt in the long-term to less than 55% of GDP. Measures to improve competitiveness and for long-term sustainable growth include a wide spectrum of measures aimed at  strengthening the rule of law, accelerating foreign investment, introducing flexibility to the labour market, ensuring the efficiency of the public sector, promoting entrepreneurship and caring about health and the environment. The Government discussed the draft National Reform Programme at its fifth regular session on 18 April and referred it to the National Assembly and the Economic and Social Council for their opinion. The draft was discussed at the meeting of the Economic and Social Council on 26 April and 8 May and by the following working bodies of the National Assembly: the Committee on Finance and Monetary Policy on 26 April 2013, Committee on the Economy on 26 April 2013, the Committee on Education, Science, Sport and Youth on 26 April 2013, the Committee on Labour, the Family, Social Policy, and Disability on 8 May 2013, and the Committee on EU Affairs on 8 May 2013. The relevant discussions at the Economic and Social Council and the committees of the National Assembly will be included in the final version of the Programme. More information: Ministry of Finance, Public Relations (Ms. Irena Ferkulj, phone: +386 1 369 66 24, e-mail: irena.ferkulj[@]mf-rs.si). The Government adopts the Stability Programme 2013 At today’s regular session, the Government adopted the Stability Programme 2013 and authorised the Ministry of Finance to refer it to the European Commission and the Council of the EU. The Government will present the Stability Programme to the National Assembly. The Stability Programme and its annual updates on the basis of new macro-economic forecasts and economic policy guidelines must be referred to the European Commission every April within the so-called European Semester together with the National Reform Programme. Due to the formation of a new Government, the European Commission agreed to Slovenia referring both documents by 9 May 2013. The document has been taken into account that Slovenia has been officially undergoing the excess deficit procedure, and is required to lower debt to less than 3% of GDP by 2013 in accordance with the recommendations of the Council of the EU. Slovenia’s priorities are measures to re-start economic growth and achieve fiscal stability. The measures to promote growth are presented in greater detail in the National Reform Programme 2013–2014. They will be based on strengthening bank stability, lowering debt and re-structuring companies. Transferring bad assets from banks to the Bank Assets Management Company (DUTB) and ensuring capital adequacy at a level comparable with the EU average are key measures to improve financial conditions. To purchase bad bank assets, there will be a DUBT bond issue, with a government guarantee, of up to 4 billion euros. The transfer of bad assets from banks to DUTB is to be carried out in several steps and completed by the end of September 2013, which will gradually increase government debt. The debt will decrease in the next few years depending on sales dynamics and the liquidation of assets, as DUTB will purchase the bonds with assets acquired from sales. In addition to transferring bad assets from banks to DUTB, banks will receive additional capital. On the basis of reviewing their balance sheets and the results of stress tests performed by the Bank of Slovenia, the banks will need up to 900 million euros of additional capital by 31 July, which will have a one-off effect on raising the deficit in 2013. The main goals of Slovenia’s fiscal policy in this programme period are:
(i) structural balance by 2017, which will enable the deficit to be lowered below 3% of the GDP by 2015;
(ii) stabilising government debt to below 55% of the GDP. The goal of lowering the deficit to below 3% of GDP will be achieved in 2015 due to worse macro-economic trends, particularly by reducing public expenditure and partly by increasing revenue. With reference to expenditure retrenchment, funds for public sector pay will continue to be capped, which requires additional measures that are already the subject of negotiations with the unions and which will have a financial effect this year. Measures to curb expenditure on pensions will also continue, as well as the restrictive policy on social transfers. With the revised budget, the funds earmarked for goods, services and investment will also be lower. By the end of the year, the Government will present a second package of measures permanently targeting expenditures, which will be evenly distributed over all sectors. These measures will be presented in the next Stability Programme. The most important permanent measures in terms of revenue:
  • increasing the normal VAT rate [note] by 2 percentage points and lower VAT rate by 1 percentage point as of 1 July 2013,
  • introducing a crisis tax as of 1 January  2014 if it is impossible to reach a consensus on sufficient additional reductions in expenditure,
  • introduction of a property tax as of 1 January 2014.
In addition, the gradual reduction in corporate tax, which was introduced last year, will be suspended, while taxes will be imposed on the sale of lottery tickets and on some beverages containing sugar, and court fees will be increased. After eliminating the excess deficit in 2015, fiscal consolidation will continue toward the mid-term fiscal goal of permanent fiscal balance in 2017. Due to the overhaul of the banking sector, debt will increase over the reference limit of 60% of GDP; however, this will be gradually reduced to less than 55% of GDP (the 2012 level) through the sale or liquidation of assets acquired by the Bank Asset Management Company. The Government has set the following goals in this programme period regarding the institutional framework of public finances:
  1. introducing the fiscal rule into national legislation in order to improve fiscal discipline and responsible planning and the use of public funds, thereby fulfilling the commitment made with the signing of the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union;
  2. ensuring greater fiscal transparency by including all compulsory levies in public budgets and limiting financing public or general items from outside the budget;
  3. increasing flexibility in the use of public funds by respecting more strictly the integrity of the budget and including earmarked funds in the integral budget;
  4. improving the efficiency, use and supervision of public funds
  5. improving the efficiency of tax collection, particularly by merging the tax and customs administrations into a single Financial Administration.
[note]  The legal basis for this measure is provided by the Value Added Tax Act, while the purpose is the same as defined in the Fiscal Balance Act. More information: Ministry of Finance, Public Relations (Ms. Irena Ferkulj, phone: +386 1 369 66 24, e-mail: irena.ferkulj[@]mf-rs.si). The Government approved the draft text of the decision of the National Assembly approving the disposal of investments of the Republic of Slovenia, the pension fund KAD, the compensation company SOD, Modra zavarovalnica insurance company, DSU management and consultancy company and the PDP financial holding company. The draft decision authorises SOD as the manager of assets owned by the Republic of Slovenia, and KAD, SOD, Modra zavarovalnica, DSU, d.o.o., and PDP, d.d. to dispose of their investment in 15 companies. This approval is required under Article 38 of the Sovereign Holding Act until strategic documents (classification) are adopted. When this decision is approved by the National Assembly, these companies will be able to continue or proceed with all procedures until final sale. The proposed decision of the National Assembly means that the latter has agreed to the disposal of assets in the following companies, where the procedure has already begun:
  1. Adria Airways, d.d.
  2. Aero, d. d.
  3. Elan, d.o.o.
  4. Fotona, d.d.
  5. Helios, d.d.
The proposed decision of the National Assembly means that the latter has agreed to the disposal of assets in the following companies, where the procedure has not yet commenced:
  1. Aerodrom Ljubljana, d.d.
  2. Adria Airways Tehnika, d.d.
  3. Nova KBM, d.d.
  4. Telekom Slovenije, d.d.
  5. Cinkarna Celje, d.d.
  6. Gospodarsko razstavišče, d.o.o.
  7. Paloma, d.d.
  8. Terme Olimia Bazeni, d.d.
  9. Unior, d.d.
  10. Žito, d.d.
More information: Ministry of Finance, Public Relations (Ms. Irena Ferkulj, phone: +386 1 369 66 24, e-mail: irena.ferkulj[@]mf-rs.si). ]]> Government Session http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/8th_government_session_government_adopts_the_national_reform_programme_2013_2014_and_stability_prog/ Thu, 09 May 2013 20:08:00 +0200 5th Government Session: Act Amending the Financial Operations, Insolvency Proceedings and Compulsory Dissolution Act http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/5th_government_session_act_amending_the_financial_operations_insolvency_proceedings_and_compulsory/ At today's session, the Government approved the draft text of the Act Amending the Financial Operations, Insolvency Proceedings and Compulsory Dissolution Act. Amendments and additional provisions were necessary to ensure effective and real opportunities to restructure insolvent companies, which is of the utmost importance for preserving healthy businesses and jobs in Slovenia. The main objectives of the draft act are: • to provide greater opportunities for the effective and feasible re-structuring of insolvent companies (preserving the healthy business cores)
• to prevent and limit the influence of bodies of insolvent debtors on decision-making which would be contrary to the goals of insolvency procedures, the protection of creditors and new investors
• to improve the position of creditors’ committee and individual creditors
• to improve the position of creditors who are employees of the insolvent debtor
• to prevent the biased influence on insolvency procedures of persons who share interests or are connected to the debtor
• to ensure greater efficiency of asset sale procedures at public auctions
• to ensure effective control of the work of receivers by the Ministry of Justice, and increase the responsibility of receivers in order to prevent their appointment to new cases
• to ensure the more effective operation of State Attorney’s Office regarding enforcing the Government’s rights in insolvency procedures
• to eliminate inconsistencies which have been found to exist in practice Proposals which seek to provide greater opportunities for the efficient and feasible re-structuring of insolvent companies and maintaining healthy business cores are as follows: • Introducing simpler composition procedures for sole traders and micro companies, which would make financial re-structuring much cheaper and faster
• Amending legislation on increasing the core capital of an insolvent debtor based on decisions issued by the creditors’ committee, which should also include converting claims to equity or ownership
• Determining the possibility of transferring the management of insolvent debtors to buyers of new shares 
Amending voting rules on compulsory composition to determine a higher capital ratio for voting on compulsory composition, with reference to the claims that a creditor may transfer to the debtor in the process of increasing core capital with new in-kind contributions if the creditor also pays a new in-cash contribution.
In order to prevent and limit the influence of bodies of the insolvent debtor on decision-making which would be contrary to the goals of insolvency procedures, the protection of creditors and new investors, the proposed amendment foresees limiting the competencies of supervisory bodies and general assemblies, and the possibility of transferring business management according to a new article. In order to improve the position of creditors’ committees and all and individual creditors, the right of the creditors’ committee to access documentation is extended. The law will also regulate decision-making at correspondence meetings. The creditors’ committee will have the authority to request (provided that all members agree) without explanation that the creditors vote to dismiss an appointed receiver if he/she loses their confidence, and vote on a new candidate. With reference to proving the conditions for initiating an insolvency procedure, additional rebuttal presumptions or longer illiquidity is determined. With regard to re-payments in compulsory compositions, the law determines the intermediary dynamics of claims. In addition, amendments foresee objections due to the infringement of creditors’ right to equal treatment, so that if an objection is reasonable, the court will order the necessary measures to resolve this, usually by instructing the receiver on how to proceed. In order to improve the position of creditors who are employees of the insolvent debtor, a new priority claim is determined, i.e. compensation for unused annual leave. The amendment also determines foregoing payment an advance to initiate an insolvency procedure, new reasons for objections to an insolvency procedure if an insolvent debtor is over 15 days late in paying employees minimum salaries or taxes and contributions that are paid together with salaries. In order to ensure greater efficiency of assets sale procedures at public auctions, a new possibility for the public sale of assets is introduced, which allows for lowering the initial asking price, which may lead to faster repayment of creditors and shorter insolvency procedures. In order to ensure efficient control of the work of receivers by the Ministry of Justice, amendments foresee the examinination of the documents of the insolvent debtors, conditions for issuing and withdrawing authorisations, the temporary suspension of appointing the receiver to new procedures, the composition of disciplinary bodies and improving cooperation between the courts and the Ministry of Justice. More information: Ministry of Justice, Public Relations, (Ms Mojca Hardi, phone: +386 1 369 54 04, e-mail: pr.mp@gov.si).


State Aid to Rescue and Re-Structure Companies in Difficulty

At its regular session, the Government also approved the draft Act Governing the Rescue and Restructuring Aid for Companies in Difficulty. The Act introduces improvements in the area of state aid to companies in difficulty by expanding the types of state aid (investment in capital, converting claims from loans and paid guarantees) and abolishing the ceiling for state aid. The Act also abolishes the provision of state aid to companies in which the assets of the Republic of Slovenia are greater than 25%. This is crucial to improving the system of granting state aid. When many companies have too many debts and need the government’s help, it makes no sense to exclude some companies as potential aid beneficiaries. The Government also discussed the financial situation and business conduct of Cimos (automobile industry). It issued a decision stating that it actively supports the efforts of the company, its owners and lending banks to save and re-structure the company. The Government has committed itself to grant state aid immediately in the form of subsidiary guarantees to the benefit of lending banks in order to approve new short-term loans totalling 35 million euros. More information: Ministry of Economic Development and Technology, Public Relations, (Ms Stanka Ritonja, phone: +386 1 400 35 05, e-mail: stanka.ritonja@gov.si). ]]> Government Session http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/5th_government_session_act_amending_the_financial_operations_insolvency_proceedings_and_compulsory/ Thu, 18 Apr 2013 15:28:00 +0200 PM Alenka Bratusek: "All measures will be presented to the public at the same time, which will be 9 May at the latest" http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/pm_alenka_bratusek_all_measures_will_be_presented_to_the_public_at_the_same_time_which_will_be_9/ Other http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/pm_alenka_bratusek_all_measures_will_be_presented_to_the_public_at_the_same_time_which_will_be_9/ Fri, 12 Apr 2013 19:02:00 +0200 Slovenia ratifies Croatia’s Accession Treaty http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/slovenia_ratifies_croatias_accession_treaty_37842/ Ljubljana – Slovenian Parliament ratified Croatia's EU accession treaty without a single opposing vote. 
After the vote, Slovenian Prime Minister Alenka Bratušek said that the countries had resolved many outstanding issues which had emerged on Croatia's path to the EU through dialogue, demonstrating that they fully follow the European policy of co-existence. She stressed that Croatia’s joining the EU is extremely significant for the Slovenian economy, as Croatia is one of its key markets. 
Following the invitation of the Slovenian Prime Minister, the Croatian Prime Minister Zoran Milanović and the Minister of Foreign Affairs Vesna Pusić were present at the vote in the National Assembly. 
]]> Foreign Affairs European Affairs http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/slovenia_ratifies_croatias_accession_treaty_37842/ Tue, 02 Apr 2013 13:18:00 +0200 1st Government Session led by Prime Minister Alenka Bratušek http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/1st_government_session_led_by_prime_minister_alenka_bratusek_37698/ On Wednesday, 20 March 2013, the Slovene Parliament elected the 11th Government of the Republic of Slovenia, led by Prime Minister Alenka Bratušek, with 52 votes. The cabinet was selected from the four coalition parties: Positive Slovenia, Social Democrats, Civic List and Democratic Party of Pensioners of Slovenia. After the election, Prime Minister Alenka Bratušek pointed out that the government would strive to reduce the political turmoil within the country, to jumpstart the economy, to consolidate public finances and stabilise the banking system. Today, the new Prime Minister Alenka Bratušek took over most current affairs from outgoing Prime Minister Janez Janša. She also thanked the former Prime Minister for all the good his government had done for Slovenia and stated in her press release that her government would do its best to continue good projects that has already been started. She also added that the Slovene economy needs to gain new momentum, to create new job opportunities, more optimism and hope, but above all cooperation. Her predecesor congratulated the new Prime Minister on the election of her government and expressed a desire for cooperation for the common good. Responsibilities were also handed over at most government departments. The Government of the Republic of Slovenia already met today for its first i.e. constitutive meeting. They made several personnel appointments, including Tanja Šarabon as the Government Secretary General, and founded government working bodies. The members of the cabinet were informed of the state of the National Budget.]]> Government Session http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/1st_government_session_led_by_prime_minister_alenka_bratusek_37698/ Thu, 21 Mar 2013 17:11:00 +0100 55th Government Session: A Single Financial Administration http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/55th_government_session_a_single_financial_administration_37654/ At today's regular session, the Slovenian government finalised the wording of the proposed Law on Financial Administration. The government assessed that it is appropriate for tax and customs offices to be merged into a single financial administration. This assessment is rooted in the anticipated change in circumstances triggered by Croatia joining the EU, as well as in enhanced efficiency regarding tax collection and increased rationalisation in the organisation of tax collection units. The merger of the two offices completes the goals of rationalisation procedures and expenditure optimisation of the two thus-far separate bodies. The merger is also intended to increase the efficiency of the personnel employed by the two offices. The unification of individual control mechanisms and data bases will allow for the comprehensive and effective management of taxpayers, as well as alleviating administrative hurdles regarding their obligations. On the other hand, it will also reduce the administrative burden on the financial administration. The goal of the proposed law is to create a legal framework for the further development of a public body responsible for tax collection set up according to the latest standards for public bodies. The proposed law determines the operating principles, internal organisation, tasks and authorities of the financial administration; it determines also data collection procedures, taxpayer register management, personnel rights and obligations, as well as all other questions related to financial administration operations. The Financial administration of the Republic of Slovenia will be an administrative body functioning within the Ministry of Finance. The General Financial Office will also include financial police, a specialised financial investigation unit to deal with exceptional cases of discovering and investigating the severest breaches of tax regulations or other regulations that fall within the authority of the financial administration which pose a material threat to the financial and security interests of the Republic of Slovenia and the EU, and therefore need the particular skill, organisation and equipment of financial investigators. Another important feature is that the General Financial Office of the financial administration will enable the prompt alignment of activities of mobile departments that will aid the financial police. This form of organisation will significantly help to address the severest breaches in tax evasion of all kinds, as well ensure that basic tax collection is more efficient. The financial police will act independently. The government will issue a directive, based on the proposed law, to determine the tasks, jurisdiction, region and headquarters of the General Financial Office and financial offices. The financial administration collects specific data and manages and merges the taxpayer register and other records.
More information: Ministry of Finance, Public Relations (Ms. Irena Ferkulj, phone: +386 1 369 66 24, e-mail: irena.ferkulj@mf-rs.si). ]]> Government Session http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/55th_government_session_a_single_financial_administration_37654/ Tue, 19 Mar 2013 15:16:00 +0100 54th Government Session: Ratification of the Memorandum between the Governments of the Republic of Slovenia and the Republic of Croatia http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/54th_government_session_ratification_of_the_memorandum_between_the_governments_of_the_republic_of_s/ Ratification of the Treaty of Accession between EU Member States and the Republic of Croatia At today’s regular session, the Slovenian government adopted the act ratifying the Treaty of Accession between EU member states and the Republic of Croatia concerning the accession of Croatia to the European Union, signed on 9 December 2011 in Brussels.
Croatia applied for EU membership on 21 February 2003. On 20 April 2004, the European Commission recommended making it an official candidate, which led to the European Council granting Croatia Candidate country status. The entry negotiations began on 3 October 2005, after the Council made a favourable ruling based on a positive assessment of Croatia’s co-operation with the International Criminal Tribunal for Former Yugoslavia. On that same day, the negotiation framework was set for Croatia at a ministerial-level inter-governmental conference between the EU and Croatia. The legislative screening process began on 20 October 2005. Croatia completed the accession negotiations on 30 June 2011.
The procedure for Croatia’s Treaty of Accession began in December 2009 and was concluded in September 2011. The structure of Croatia’s Treaty of Accession resembles those of the so-called fifth round of accession that took place in 2004 and 2007, when twelve new member states joined the Union, including Slovenia. The wording of the Treaty is rooted in the wording of EU common policies for the temporary closure of individual chapters, which were regularly adopted by the Slovenian National Assembly as part of the internal procedure of accepting and confirming Slovenian policy on EU common policies. During its 32nd regular session on 19 October 2011, the National Assembly adopted the policy on Croatia’s Treaty of Accession by 62 votes in favour and 2 against, and confirmed the Prime Minister’s mandate with the task of signing the Treaty. On behalf of the Republic of Slovenia, Croatia’s Treaty of Accession was signed by Prime Minister Borut Pahor on 9 December 2011. The signing of the Treaty of Accession has been followed by individual ratifications in the parliaments of Croatia and Member States. Ratification documents, signed according to member states’ individual constitutions, should be delivered to the depositary (the Italian government) by 30 June 2013, allowing the Treaty to enter into force on 1 July 2013. Twenty signatories had ratified the Treaty by 11 March 2013. In three further countries, the ratification act has been confirmed by parliament, while five countries are yet to ratify the Treaty. More information: Ministry of Foreign Affairs, Public Relations (Ms. Tanja Mljac, phone: +386 1 478 23 54, e-mail:pr-mzz@gov.si).

Ratification of the Accordance Memorandum between the Governments of the Republic of Slovenia and the Republic of Croatia

At today’s regular session, the Slovenian government issued the Ratification Act for the accordance memorandum between the Governments of the Republic of Slovenia and the Republic of Croatia, signed on 11 March 2013 in Mokrice. The memorandum states that the Slovenian and the Croatian governments agree that the issue of Ljubljanska banka foreign-currency deposits made in Croatia will be resolved within the framework of the Agreement on Succession. The governments further concur that they will keep working on a comprehensive solution to this issue and that they will actively pursue negotiations managed by the Bank for International Settlements in Basel (BIS), as specified in the Agreement on Succession. The Croatian government will ensure that, by the time this issue is settled, all foreign-currency-related legal procedures started by two Croatian banks will not be developed. The Croatian government further guarantees that this issue will not be subjected to any new court or legal procedures outside of the framework proposed by the succession agreement. The memorandum thus confirms the point of view held by Slovenia from the onset; specifically, that the same issue cannot be negotiated and litigated at the same time. By signing the memorandum, the Slovenian government agrees to start the procedure of the ratification of Croatia’s Treaty of Accession to the EU at the Slovenian National Assembly.
More information: Ministry of Foreign Affairs, Public Relations (Ms. Tanja Mljac, phone: +386 1 478 23 54, e-mail:pr-mzz@gov.si).

FINANCE: Implementation of Measures to Strengthen the Stability of Banks

At today’s session, the Government issued the Regulation on the Implementation of Measures to Strengthen the Stability of Banks. With the goal of boosting loans to the non-financial sector, ensuring conditions for the disposal of the state’s capital investments in banks and establishing responsibility for credits and investments listed as impairments in the banks’ balance sheets, the Measures of the Republic of Slovenia to Strengthen the Stability of Banks Act was drafted, coming into force on 28 December 2012. In addition to the measure of issuing state guarantees for the borrowing of banks from the Bank of Slovenia to ensure required liquidity, the act provides the legal basis for the transfer of non-performing assets to the Company for Managing Non-performing Assets of Banks and, in the second step, for an increase in the capital of banks if the transfer of non-performing assets leads to the non-fulfillment of capital requirements in banks. Only in this way will the credit crunch be eased and the financing of good business projects ensured, since, after the transfer of non-performing assets, the banks will release the capital bound to these assets. In accordance with the Measures of the Republic of Slovenia to Strengthen the Stability of Banks Act, the Regulation provides the criteria and conditions that the banks have to meet to qualify for the measures on the basis of this Regulation, and the criteria and conditions for the determination and implementation of particular measures on the basis of this Regulation.    The criteria and conditions that the banks have to meet to qualify for the measures on the basis of this Regulation are determined by the requirements regarding the preparation of a business strategy, on the basis of which - and taking into consideration the proposal of the inter-governmental commission - the Government of the Republic of Slovenia decides on the implementation of measures in a bank, pursuant to this Regulation and the Measures of the Republic of Slovenia to Strengthen the Stability of Banks Act.
Other criteria and conditions for determining and implementing measures to strengthen bank stability provided in the Regulation concern: • increase of share capital of banks and other capital instruments of banks; • assuming the risk of banks by the Company for Managing Non-performing Assets of Banks; • issue of a guarantee by the Republic of Slovenia for the liabilities assumed by the special-purpose company. 
More information: Ministry of Finance, Public Relations (Mr. Peter Bajec, phone: +386 1 369 6609, e-mail: peter.bajec@mf-rs.si).]]> http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/54th_government_session_ratification_of_the_memorandum_between_the_governments_of_the_republic_of_s/ Wed, 13 Mar 2013 14:43:00 +0100 Prime Minister Jansa: "Memorandum Resolves Croatia's Last EU Accession Issue" http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/prime_minister_jansa_memorandum_resolves_croatias_last_eu_accession_issue_37523/ Castel Mokrice, Slovenia – The inter-governmental memorandum signed earlier today places the Ljubljanska Banka dispute within the succession framework and thus “resolves the last remaining issue in the process of ratifying Croatia’s EU accession agreement”, stated the Slovenian Prime Minister Janez Janša at the press conference following the signing of the Memorandum. He also took the opportunity to thank all parties involved in resolving this issue and finding a compromise that has allowed both sides to emerge as winners.
As further explained by Prime Minister Janša, today’s deal allows the Slovenian government to send the ratification of Croatia’s EU accession agreement to the National Assembly this week. Considering the agreement adopted at the Foreign Policy Board meeting several days ago, the National Assembly will commence the procedure of finalising Croatia’s accession agreement and complete it when Slovenia receives  confirmation that the Croatian government has ratified today’s memorandum. 
As assessed by Prime Minster Janša, the ratification of Croatia’s EU accession agreement could be completed by the end of this month. He further assured the Croatian Prime Minister, Zoran Milanović, that “Slovenia looks forward to friendly co-operation with its neighbour Croatia within the European Union”.
]]> Foreign Affairs http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/prime_minister_jansa_memorandum_resolves_croatias_last_eu_accession_issue_37523/ Mon, 11 Mar 2013 15:03:00 +0100 The Slovenian Government confirmed the MoU on the settlement of the Ljubljanska banka transferred foreign currency savings in Croatia http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/the_slovenian_government_confirmed_the_mou_on_the_settlement_of_the_ljubljanska_banka_transferred_fo/ Ljubljana – At today’s regular session, the Government accepted the Memorandum of Understanding between Slovenia and Croatia on the settlement of the Ljubljanska banka transferred foreign currency savings in Croatia, said the Prime Minister Janez Janša at the press conference after the session. 

The text of the Memorandum was unanimously accepted by the parliamentary foreign affairs committee at a closed session yesterday, and initialled in English by Tone Kajzer, the State Secretary at the Prime Minister’s Cabinet, and Vesna Pusić, the Croatian Foreign Minister, in Zagreb today. 
With the Memorandum, Slovenia and Croatia have agreed on the following: 
1. that the solutions for the transferred foreign-currency deposits of Ljubljanska banka in Croatia will be sought after within the Agreement on Succession Issues (Appendix C). 
The Governments have committed to find a final solution to this question as soon as possible, and for this reason will actively approach the continuation of negotiations under the auspices of the Bank for International Settlements (BIS) in Basel, in line with the Agreement on Succession Issues. 
2. that until the final solution has been reached, Croatia will ensure the suspension of all law suits filed by two Croatian banks concerning transferred foreign-currency deposits. It will also ensure that no new legal or any other procedures concerning this problem will commence outside the framework of the Agreement on Succession Issues.
The Memorandum also confirms the position held by Slovenia all along that it is not possible to negotiate and sue over the same issue at the same time.

3. Slovenia commits to start the procedure of ratifying the Croatian Accession Treaty to the EU in the National Assembly.  
At the press conference, Prime Minister Janez Janša explained that the Government would send the Act on the ratification of the Croatian Accession Treaty to parliament, but that the procedure would not be concluded until Slovenia received the notification on the Memorandum’s ratification from Croatia.
The Slovenian Prime Minister Janez Janša and the Croatian Prime Minister Zoran Milanović will sign the Memorandum on Monday, 11 March in Mokrice Castle, close to the Slovenian-Croatian border.
]]> Foreign Affairs http://www.vlada.si/nc/en/zapisi/news/rss/press_releases/article/the_slovenian_government_confirmed_the_mou_on_the_settlement_of_the_ljubljanska_banka_transferred_fo/ Thu, 07 Mar 2013 15:12:00 +0100