The paper notes that optimism among German exporters is slowly declining, while export expectations are falling, as the Munich think-tank Ifo noted yesterday.

The news from Munich is therefore a clear warning to Slovenia, a small, open and export-oriented economy, which does a quarter of its total trade with Germany.

Exports will remain Slovenia's strongest weapon and the nation's economic foundation, Slovenia just has to use them smartly, focus more on services, and expand beyond eurozone countries.

"With better geographic and currency dispersal of exports we will be better prepared for a possible new euro and eurozone crisis. Such a crisis is not currently on the horizon, but it is clear that the economic cycle will turn negative at some point," the paper concludes in Let's Be Better Prepared When Germany Starts Itching to Sneeze.