Hungary’s intention to join the EU makes it necessary to adopt, introduce and use the EU system of law. In Hungary, the legal control of animal welfare has improved (XXVIIIth law in 1998); however, most of our pig farms do not meet the EU animal welfare law requirements for some reason. We examined 9 pig farms in Hajdú-Bihar, Borsod-Abaúj-Z...emplén and Heves counties. We chose those farms which use the combined breeding
technology most frequently used in Hungary. The most important part of the welfare directive is the definition of the minimum space per animal. We analysed the data in comparison with EU laws. On the basis of the analysis, it can be said that there is a narrow cross-section: the breeding of piglets. During the cost analysis, we analysed cost and highlighted the permanent cost. We studied how these costs would change if EU animal welfare laws were observed. We also examined the specific data per 1 sow and per 1 kilogram of slaughter pig. We compared the present data (1999) with those we get if EU animal welfare laws concerning minimal space per pig were now followed. It can be stated that after decreasing the sow live-stock in accordance with EU directives, the permanent cost would increase by 17,7% per sow. If the required space per sow were provided, the total cost per sow would increase by 1,9% from 421,1 thousand forints to 429 thousand forints, on average. This would mean a decrease of 7,9
thousand forints profit per sow. As with the decrease of the number of sows, the number of slaughter pigs also decreases. Total cost per 1 kg of slaughter pig would increase from 214,7 forints to 218,2 on average.
The Slovenian economy has been through steep ups and downs post-EU accession (2004), and is at the crossroads again. The period 2004–2008 was characterized by balanced monetary and fiscal policies resulting in the adoption of the Euro (2007), coupled with overheated economic growth and propelling corporate indebtedness, fuelled by rapid credi...t expansion from cheap and abundant foreign funding.
The global financial crisis has exposed the “home-grown” vulnerability of the Slovenian economy, bringing about the second largest GDP fall (9.4%) in the Eurozone after Greece, with a double-dip recession (2009, 2012–13). Growth rebounced in 2014 to 2.6% from its low, but the competitiveness of the Slovenian economy continued to slide in international rankings. For further recovery Slovenia, squeezed by high public debt at 82% of GDP, credit contraction despite EUR 5bn state aid injected into the 70% domestically (basically state) owned banking sector, and the continued threat of massive bankruptcy and debt overhang in the corporate sector, has 3 fundamentally different policy options.
− Profound restructuring of the banking system and the real sector, on the basis of earnest privatization and voluminous FDI inflow.
− Slow creditless recovery due to half-hearted reforms in the financial system and corporate sector.
− Substituting wide-ranging micro level restructuring with Government-stimulated credit expansion, reproducing current tensions in even higher magnitudes in the future.
In the current state of the Slovenian economy, equity-led growth, combined with far-reaching institutional reforms seems the only choice in laying the foundation for long-term sustainable economic development. This study outlines the critical further steps in re-invigorating the financial system, utilizing also the proposals elaborated by the author and his banking team for the Slovenian macro policy decision-makers.