Mr. Mramor said the implementing law, which was prepared by PM Miro Cerar's government, was in line with EU's Stability and Growth Pact. The implementing law allows flexibility and makes more room for a countercyclical economic policy. In addition it provides for increased adjustability.

"We have to realize that we no longer have a monetary policy to fall back on. In order for us to be able to quickly respond to economic shocks and other extraordinary circumstances, we need at least a part of a fiscal policy," Mramor warned. He added that before conducting talks with all the parliamentary parties, it would be difficult to predict whether the implementing law would get the needed votes from the opposition.

In order for the law to be passed the coalition needs the backing of at least part of the opposition. 60 votes will be needed for the law to be passed in the National Assembly. The coalition can most likely count on the 5 votes from the New Slovenia NSi party and 4 votes from the ZaAB Alliance of Alenka Bratušek. The biggest opposition party, the SDS, has put forward its own draft of the implementing law on the fiscal rule. Meanwhile the United Left ZL party is in general against the fiscal rule and would even erase it from the constitution. Finance Minister Mramor is to meet with two of the opposition parties today and then with the remaining two on Wednesday.