NEWS

At the European Council meeting that opened today in Brussels the heads of EU Member States will talk about the future of the economic and monetary union and a time schedule to discuss elements for its further strengthening.

Having arrived at the meeting, the Prime Minister of the Republic of Slovenia, Janez Janša, pointed out that the agreement on a legislative framework for a single banking supervision mechanism in the euro area is “good news'” given the situation in which the Slovenian banks have found themselves. He also stressed that it would take a while before this mechanism becomes operational. By then, Slovenia must “do its own home-work”.

Prime Minister Janša expressed the hope that the decision to lift the legislative blockade on the stability of the banking system would be adopted as soon as possible, which would enable Slovenia to move forward. If this was not the case, the time to elapse until the operability of the European supervisory mechanism might be “fatal”' for Slovenia. 

At tomorrow's meeting, Prime Minister Janša will update Olli Rehn, Vice-President of the European Commission responsible for economic and monetary affairs and the euro, on the current situation in Slovenia. Prime Minister Janša pointed out that “no parliamentary democracy has ever seen a budget being blocked by a referendum”, and this calls for an explanation.