Arhar says Slovenia not ready for euro

Slovenia is not sufficiently prepared to enter the Exchange Rate Mechanism II (ERM II), France Arhar, chairman of the Slovene branch of Bank Austria Creditanstalt, told the weekly Mag, saying that the country is experiencing unusual circumstances in long-term rates.

The current 10-year rate is 4.8 per cent, but should be at least 1 percentage point higher, STA news agency reported Arhar as saying.

Arhar, a former central bank governor, also criticised the government's economic development strat

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