Dear All,
Slovenia is on everyone's mind and I have happy to be able to introduce you to my friends at Alta Invest in Slovenia where Head of Research Saso Stanovnik has written an excellent Macro Report: Slovenia – Quo Vadis
Please make sure to read it. Here is the opening conclusion from Saso and his team:
The problem of Slovenia is in a trinity of banking sector problems, indebted corporate sector and persistence of adverse macro environment – a spiralling negative trend. On a negative note, Slovenia must break the status quo mentality and negativity towards foreign capital. This will not be easy. On a positive note, Slovenia has immediate issue only to fix banking sector while government debt levels are low enough that we cannot count it as fundamental problem. It does however represent liquidity problem especially in environment where contagion is a factor. In short, we believe that Slovenia will only have to regain credibility and restore investor confidence for a turnaround – this is easy and hard at the same time. We also stress Slovenia is not Cyprus.
Safe travels,
Steen
Med venlig hilsen | Best regards
Steen Jakobsen | Chief Economist
Saxo Bank A/S | Philip Heymans Allé 15 | DK-2900 Hellerup
Phone: +45 39 77 40 00 | Direct: +45 39 77 62 23 | Mobile: +45 51 54 50 00
Please visit our website at www.saxobank.com
This email may contain confidential and/or privileged information.
If you are not the intended recipient (or have received this email
by mistake), please notify the sender immediately and destroy this
email. Any unauthorised copying, disclosure or distribution of the
material in this email is strictly prohibited.
Email transmission security and error-free status cannot be guaranteed
as information could be intercepted, corrupted, destroyed, delayed,
incomplete, or contain viruses. The sender therefore does not accept
liability for any errors or omissions in the contents of this message
which may arise as a result of email transmission.
Ingen kommentarer:
Send en kommentar