On 21 March BETTER FINANCE’s Slovenian member VZMD sent a letter to the European Commission President Jose Manuel Barroso warning European institutions about the unequal treatment of Slovenia and the “endangered financial, economic and social stability” following the expropriation of share and bond owners at Slovenian Banks.
The letter was a joint initiative by VZMD’s NKBM Section and the Civil Society Initiative aimed at reminding the European Commission that 100.000 shareholders at three Slovenian banks were expropriated as well as 2000 owners of subordinated bonds. This expropriation further affected a quarter of the Slovenian population’s insurance and pension savings. The letter also points out that none of the member states currently under a financial assistance programme had taken similar action and expropriated small investors.
Please find more details regarding the claims and demands of VZMD and the Civil Society Initiative here.