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EU Commission approves aid for Slovenian banks

September 6, 2013

AMSTERDAM (AP) — The European Union’s Commission says it has approved Slovenian government plans to guarantee debt of two of the country’s banks amounting to a little over 1 billion euros ($1.3 billion) in order to guarantee the stability of the country’s financial system.

In a statement Friday, the EU executive arm said Factor banka dd and Probanka dd would receive 540 million euros and 490 million euros in guarantees, respectively, for a two month period.

“The measures have been designed to stabilize the liability side of the two banks’ balance sheet and to reassure the markets,” the Commission said in a statement. The Commission will now consider plans to restructure or close the banks.

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