Connect to share and comment

Slovenia's govt' confirms austerity wage cuts in public sector agreed with unions

LJUBLJANA, Slovenia - Slovenia's government has formally approved an agreement it reached with trade unions to cut public sector wages by up to 4.8 per cent as part of budget austerity measures the country needs to avoid an international bailout. The agreement, which was confirmed Thursday, is expected to save 108.6 million euros ($141 million) this year and 182.6 million euros in 2014 for debt-laden Slovenia, which is struggling to avoid becoming the sixth of the 17 European Union countries that use the euro to need financial aid.

UPDATE 1-Party quits Slovenian government, election looms

* Snap election looming, second in just over a year * Troubled euro zone member trying to avoid bailout * Analyst expects cut in sovereign ratings (Updates with party quitting and analyst comment) By Marja Novak LJUBLJANA, Jan 23 (Reuters) - A junior partner in Slovenia's ruling coalition quit on Wednesday, stripping the government of its majority in parliament and dealing a blow to the troubled euro zone member's efforts to avoid a bailout.
Syndicate content