Slovenia can avoid bailout, needs reforms-German FinMin

BERLIN Mon May 13, 2013 3:04am EDT

BERLIN May 13 (Reuters) - Slovenia can get by without an international bailout programme but will need to adopt tough austerity measures, German Finance Minister Wolfgang Schaeuble told German radio on Monday.

Last week, the tiny former Yugoslav republic announced plans to sell state firms and raise value-added tax to help stabilise its finances and avoid becoming the latest euro zone country after Cyprus to require a painful bailout programme.

"Slovenia can manage (without a bailout programme). However it must also carry out some painful restructuring (of its economy)," Schaeuble told SWR 2 radio.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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