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Thread: Is Slovenia now on the brink?

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    Politics.ie Member Shqiptar's Avatar
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    Default Is Slovenia now on the brink?

    Cyprus gave us the C for SICPIG. Slovenia might let us turn the acronym into a plural.

    In the last few days, as a result of the hamfisted Cypriot bailout/in/whatever, the Adriatic country has seen its borrowing costs soar to unsustainable levels. See the graph below, the 10Ys are up by 250 basis points and are now - being just below those of bailed out Portugal - at an unsustainable level.



    There's no doubt that the Cypriot bailout is a game changer. I expected the next big mini-crisis would be brought about by an Italian downgrade as a result of that country being paralysed by the inability to form a government. I didn't expect it to be caused by the head honchos in Frankfurt and Brussels.

    See the killer line at the end of the Guardian article?

    After Slovenia, who's next? The research house Capital Economics has its money on Malta and Luxembourg.
    Sources:
    1. When Is A "Unique Template" Bailout Not A Bailout? When It's In Slovenia | Zero Hedge
    2. Slovenia could be next candidate for eurozone bailout | World news | guardian.co.uk
    3. Investors afraid Slovenia will be next for bailout - CBS News
    4. Heavy-handed Cyprus bailout puts pressure on Slovenia | EurActiv
    5. Slovenia Government Bonds | Slovenia Government Bonds Yields
    Eagla agus eaglais: an bhfuil an fhréamh teangeolaíochta céanna acu?

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    What a load of rubbish, sure only yesterday a Slovenian govt spokesman said that they wouldn't need a bailout,

    And that's good enough for me,

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    Politics.ie Member seabhcan's Avatar
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    They have a budget deficit of 4.4%

    Slovenia Government Budget

    They have to borrow 1.5 billion euro to make ends meet. And interest rates for them are going to 5%. Meaning cost of borrowing is 75 million a year, per year.

    Each 1% increase in rates adds 15 million euro.

    I think they'll manage.

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    Quote Originally Posted by Ribeye View Post
    What a load of rubbish, sure only yesterday a Slovenian govt spokesman said that they wouldn't need a bailout,

    And that's good enough for me,
    it was good enough for me also in november 2010 when dermot ahern and noel dempsey were denying that ireland didn't need a bailout...lol, oh wait a minute. As for slovenia let the fun and games begin.

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    Politics.ie Member sic transit's Avatar
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    Isn't this just a set of links from people looking to bet big on yet another EU country? All sorts of wobbles this week and a bit of sulking by Moodys. All coulds and maybes at present and generating new Google content.
    "There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self." Ernest Hemingway

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    Politics.ie Member Clanrickard's Avatar
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    Quote Originally Posted by devoutcapitalist View Post
    it was good enough for me also in november 2010 when dermot ahern and noel dempsey were denying that ireland didn't need a bailout...lol, oh wait a minute. As for slovenia let the fun and games begin.
    Not much fun if you are Slovenian

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    Politics.ie Member sic transit's Avatar
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    Quote Originally Posted by seabhcan View Post
    They have a budget deficit of 4.4%

    Slovenia Government Budget

    They have to borrow 1.5 billion euro to make ends meet. And interest rates for them are going to 5%. Meaning cost of borrowing is 75 million a year, per year.

    Each 1% increase in rates adds 15 million euro.

    I think they'll manage.
    Indeed. This is what a "little learning" gets us.
    "There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self." Ernest Hemingway

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    Politics.ie Member commonman's Avatar
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    Quote Originally Posted by Ribeye View Post
    What a load of rubbish, sure only yesterday a Slovenian govt spokesman said that they wouldn't need a bailout,

    And that's good enough for me,
    The irish code for bailout,

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    Politics.ie Member Shqiptar's Avatar
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    Quote Originally Posted by seabhcan View Post
    They have a budget deficit of 4.4%

    Slovenia Government Budget

    They have to borrow 1.5 billion euro to make ends meet. And interest rates for them are going to 5%. Meaning cost of borrowing is 75 million a year, per year.

    Each 1% increase in rates adds 15 million euro.

    I think they'll manage.
    Where are you getting that figure from? They have bonds of 2 billion maturing in the middle of this year.
    Eagla agus eaglais: an bhfuil an fhréamh teangeolaíochta céanna acu?

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    Politics.ie Member Shqiptar's Avatar
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    Quote Originally Posted by devoutcapitalist View Post
    it was good enough for me also in november 2010 when dermot ahern and noel dempsey were denying that ireland didn't need a bailout...lol, oh wait a minute. As for slovenia let the fun and games begin.
    I think Ribeye was being ironic but I could be wrong.
    Eagla agus eaglais: an bhfuil an fhréamh teangeolaíochta céanna acu?

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