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Slovenian press overview Ljubljana, October 3, 1991 (STA)

Ljubljana, 3 October - DELO: State intervention at the hard currency black market - If the state intends to secure a solid financial system it must (among other things) procure a sufficient hard currency reserve, or in more simple terms, writes Mr. Jože Petrovčič, Slovenia's financial system has to be trusted in by the citizens. The financial trust can not be bought since foreign credits for these purposes are not available. Thus Slovenia has to rely on its own financial capabilities, these being in the hands of those citizens that still posses hard currency savings. Means have to be sought to enable the flow of the hard currency savings into the banking system. With this in mind the state should produce solid guarantees for the hard currency savings frozen in the banks. It should probably also enable the exchange of the hard currency savings into state bonds or their conversion into a downpayment for loan acquisition. Much would already be accomplished if the state would enable an unhindered hard currency circulation. There are many ways to entice the hard currency from private vaults, but the most important means to procure the solidity of the financial market is the production of hard currency market oriented exports, concludes Mr. Jože Petrovčič.

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