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Speaking at a lecture organised by the Institute for Middle-East and Balkan Studies (IFIMES), the governor of Banka Slovenije stressed that Slovenia had no one else but itself to blame for its current situation.

Foreign partners like the European Commission and the European Central Bank (ECB) only want to help Slovenia with strict rules, as no one wants another country that would need a bailout, he noted.

Moreover, Slovenia is part of the EU and the eurozone by its own choice and must thus follow the rules, Jazbec pointed out.

He regrets that Slovenia did not follow the example of most other countries and failed to solve its banking system already in the first wave of the financial crisis, as the rules are becoming ever stricter.

Jazbec noted that Slovenia has an extremely high share in its banks and that only eight countries in the world like India, Cuba and Iraq had higher shares. Brussels and Frankfurt thus always highlight to Slovenia the alternative of selling the banks, he added.

The governor said he was not afraid of the ongoing stress tests at Slovenian banks revealing major holes, since Slovenia's indebtedness will not exceed the eurozone average even in a worst-case scenario.

He said the key question was whether Slovenia would be able to secure the conditions for bigger growth in the coming years.

Highlighting three sets of measures, Jazbec said Slovenia first needed to salvage its banking system, then consolidate public finances and third secure the political support for these measures.

Jazbec, who remains an optimist, noted that the time was ripe for Slovenians to realise that the waiting game is unsustainable, to change the pattern and see what needs to be done.