NEWS

Prime Minister's press conference held after the Government's 148th regular session

Following today's 148th regular session of the Government, the Slovenian prime minister, Borut Pahor, began by saying that he would present the list of candidates for new ministers next week when it is submitted to the National Assembly; the list is related to the vote of confidence. Mr Pahor added that 'final talks are taking place with the candidates for the ministerial positions who, together with the entire government team, are preparing to assume the great responsibility that, as a minority government, they may receive a vote of confidence and continue working in these inauspicious circumstances'. The Slovenian prime minister also emphasised that he had chosen not to submit the list of candidates to the National Assembly one day before the vote is taken on a new president of the parliament, bearing in mind the significance of this institution getting its 'master of procedures'. Mr Pahor will therefore submit the proposal for new ministers to the president of the National Assembly next week. He went on to state that if, after the voting on the new ministers has taken place, the vote of confidence is not passed, the country would be more or less dependent on the actions of the National Assembly 'at a time when the country requires a government with its full range of powers at its disposal'. Moreover, he announced that should the results of the vote of confidence be positive, he would continue to insist on reform.

   

At today's session, the Government adopted an amendment to the Act Regulating the Guarantees of the Republic of Slovenia for Ensuring Financial Stability in the Euro Area. The underlying principle of this draft act is the principle of solidarity between EU member states, enshrined in the preamble to the Treaty on European Union. The draft act is also based on the principle of economy, since only a uniform and strong currency can contribute to balanced economic growth. Moreover, the proposed act takes the principle of proportionality into account, since every member state in the euro area provides its own share of guarantees for the funding instruments of the European Financial Stability Facility (EFSF) in accordance with the (adjusted) share of capital paid to the European Central Bank.

   

The principal result of the proposed amendment is the provision of a legal basis for the entry into force of the annex to the EFSF Agreement, which increases the Slovenia's share of guarantees, alters the way in which the total scope of the Republic of Slovenia's guarantees are to be fixed, and enables the EFSF to, within the scope of its financial assistance to a member state, purchase the latter's bonds on the primary and interventions on the secondary market — on the proviso that, according to the ECB's analysis, an extraordinary situation and financial stability risks have been established — as well as to take measures pursuant to a special precautionary programme and to increase financial institutions' levels of capital by granting loans to governments, which includes those countries not bound by economic adjustment programmes.