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Janez Jansa

Slovenia insists it's not the next Cyprus

Slovenian officials have a message for the world: Don't panic — we won't be the next to fall.The tiny European Union member is trying to convince its people and foreign investors that it won't be the next in line for a banking system collapse and a messy international bailout."We are absolutely no Cyprus," says new Slovenian Prime Minister Alenka Bratusek. "We don't need help. All we need is time."But time is running out for the Balkan state, once considered an East European success story and a model for the rest of the region on how to build a post-communist economy. With few specifics from leaders on a rescue plan, some economists are skeptical they can live up to their promises.Slovenia desperately needs fundamental reform of its banking and economic system if it is to avoid the same fate as Cyprus, a fellow member of the 17-strong group of European Union countries that use the euro. The island nation was forced to ask for a bailout from its fellow eurozone countries, the European C...

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