MENCINGER: The crisis is being politicized and will get close to the 1930 one

Prominent Slovenian economist Joze Mencinger believes that the current economic crisis will be much larger than then one from 2008 and that it will get close to the one in 1930.

– Many industries have already been completely destroyed, such as tourism, construction, transport, and large factories are closed – Mencinger said for Nedeljnik and added that it would simultaneously be “a crisis of demand and supply.”

Former Economy Minister of Slovenia pointed out that, in the end, there will be more of those who will survive that those who will go bankrupt.

What he holds against the Slovenian government is “the politicization of the crisis”, and he believes that, in that regard, “Serbia is not in a better position either.”

– Some measures aiming to frighten the citizens are much worse over there – Mencinger stated.

He said that, although the European Union had shown very little solidarity, a bigger threat came from politicians like the Hungarian prime minister, Viktor Orban, who used the opportunity to set up a dictatorship, with the EU doing nothing to stop him.

– It seems to be true that the only thing holding the EU together is the fear of dissolution – the Slovenian economist concludes.

Government of Slovenia

Jože Mencinger

Viktor Orban

economic crisis

crisis of demand

crisis of supply

politicization of the crisis