Const. Court rules FNM can't trade own bonds

Slovakia's Constitutional Court ruled in the last week of February that the state privatization agency Fund for National Property (FNM) does not have right to organize its own market for bond trading. Consequently, shares from the FNM's portfolio will not be exchanged for bonds through FNM representatives, but through the anonymous RM-Systém market. The FNM also will not be able to set the portion of debt that may be repaid by the debtor in bonds, and all FNM debtors will be allowed to repay their entire debt in bonds.