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Slovenia court rejects referendums on reform laws
December 19, 2012 / 12:40 PM / 5 years ago

Slovenia court rejects referendums on reform laws

LJUBLJANA (Reuters) - Slovenia’s Constitutional Court on Wednesday rejected referendums on two key reform laws demanded by opposition and unions, a move likely to boost the government’s efforts to avoid a bailout.

In October Slovenia passed a law setting up a state firm that would take over bad loans from state-owned banks and enable their sale, and another law for a state holding which would manage all state firms and speed up privatization.

The center-left Positive Slovenia and a union of chemical and rubber industry demanded referendums on the laws, claiming they would lead to non-transparent sale of state firms.

The government asked the Court to ban the referendums, saying the enforcement of the laws was crucial to ensure medium-term financial stability in the euro zone country, which faces a bailout due to rising amount of bad loans and renewed recession.

Reporting By Marja Novak. Editing by Jeremy Gaunt.

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