Accuracy in Media

WASHINGTON — The European Union’s weaker economies continue their struggles. This time, Slovenia saw its recession eased but it is not out of the woods yet.

slovenia economyReuters reported that Slovenia’s economy declined at a slower rate, but it is still in a recession.

Slovenia is trying to overhaul an unstable banking environment and avoid an international bailout, which several other European Union countries could not avoid. Greece and Ireland are the notable bailout countries in the economic bloc and the former, Greece, continues to cause problems for the upper E.U. economies.

Slovenia’s economy shrunk by 0.3% in the second quarter, which was a tick smaller than the 0.5% decline in the first quarter of the year. Slovenia’s government added an added-values tax and led to a decline in consumer consumption.

This could be another Cyprus-type situation, where banks were shut down to avoid a run on the banks until Russia came in to settle the uncertainty.





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