Open AccessTHE CRISIS OF 2008 AND THE RISE OF THE SLOVENIAN CONSOLIDATION STATE
Author(s) -
Marko Hočevar
Publication year - 2021
Publication title -
teorija in praksa
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.191
H-Index - 8
ISSN - 0040-3598
DOI - 10.51936/tip.58.2.305-321
Subject(s) - consolidation (business) , austerity , limiting , debt crisis , debt , state (computer science) , financial system , democracy , political science , financial crisis , economic policy , economics , political economy , keynesian economics , accounting , finance , politics , law , engineering , mechanical engineering , algorithm , computer science
. The purpose of the article is to explain the creation of the Slovenian debt state and its transformationinto a consolidation state after the crisis of 2008. Whenthe crisis struck Slovenia in 2009, the banking systemwas near collapse. Through the recapitalisations of thebanking system the public debt began to grow. After acouple of years and under the structural pressures of rating agencies and pressures from the EU, the Slovenianstate had to adopt austerity measures to consolidate itspublic finances, while limiting the scope of democracy.The main finding of the article is that the crisis of 2008fundamentally changed the Slovenian state.Keywords: capitalist state, consolidation state, debt,Slovenia, democracy