ECB warns Slovenia over new loan law
Yves Mersch says ECB should have been consulted over law and warns of financial stability effects
A senior European Central Bank official has warned the Slovenian government that an emergency law may endanger financial stability and harm the independence of the country’s central bank.
Yves Mersch of the ECB’s executive board wrote to the Slovenian finance ministry to “raise concerns” about a law adopted by Slovenian lawmakers in April. The Slovenian government did not consult the ECB over the law. European Union law obliges all member states to formally consult the ECB over draft laws that
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