With last week dollar bond emission a bail-out from the troika was avoided in the last minute for 2013?
Yes, the new government put tremendous effort in sucessful launching of the dollar bond emission. The bond emission per se was not questionable as there is an overhang of funds in the US financial markets seeking for profitable investments. In this respect, Slovenia with its relatively low public debt and manageable deficit is a relatively good investment opportunity. Slovenia is a good client to make easy money on. One can easily put it under pressure and skyrocket the borrowing rates. This is reflected in the rates of current dollar bond emission. However, the price paid for this ‘last minute financing’ is – when compared to Italy or Spain – quite high. Borrowing money at this rate is unsustainable, in particular in regard of the current recession. Nadaljujte z branjem