Sustersic's comments come as European policy makers meet in Brussels to debate the latest tranche of aid for Greece, which has pushed through harsh austerity measures in return for access to a financial lifeline.

Fears Slovenia may also need a bailout have been heightened by the European Commission Autumn European Economic forecast noting the country was suffering "strongly negative growth," with the downturn likely to continue well into 2013. However, Sustersic said Slovenia was drafting legislation and drawing up a new budget which would assist in pulling the country out of its recession.

"There is some political deadlock, some political maneuvering, we also have some referendums announced, but regardless of that I think we can find ways to implement the measures that are necessary".