Slovenia Considers Tax Hikes, Privatization To Head Off EU Bailout

German taxpayers will be happy to hear that

The government of Slovenia has announced a package of measures it hopes will help avoid an EU bailout.

The measures include a tax increase, a major restructuring of Slovenia's ailing banking sector, and a programme of mass privatisation.

Slovenia's mostly state-owned banking sector is suffering from mounting bad debts and the government has struggled to borrow money.

The European Commission will now consider the plan.

It is expected to deliver its verdict by the end of the month.