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Slovenia's Credit Rating Is Downgraded as New Prime Minister Takes Office
On January 27, 2012, Fitch, a ratings agency, downgraded Slovenia's credit rating from AA-minus to A. Italy, Spain, Belgium and Cyprus also received downgrades from Fitch Ratings, Inc. Two weeks later, Janez Jansa took office as Prime Minister of Slovenia and announced his cabinet. Jansa and his new cabinet faced some tough challenges, which included following through on budget cuts, rescuing the economy and improving the country's credit rating. Jansa has served as Prime Minister before, from 2004 to 2008.
In the 2012 presidential runoff, Borut Pahor won 67.4% of the vote and Danilo Türk 32.6%, with voter turnout at 42%. A little more than two months later, on Feb.27, 2012, a no-confidence vote in Parliament pushed Alenka Bratušek to the fore; her government was confirmed on March 20.
However, two years later, Prime Minster Bratušek resigned shortly after losing the leadership of her ruling Positive Slovenia party to political rival, Ljubljana Mayor Zoran Jankovic. Bratušek quit her party and called for an early election to be held by summer 2014.
Following Bratušek's resignation, Slovenian lawyer and professor Miro Cerar announced he was entering politics. He formed the Stranka Mira Cerarja party in early June 2014. The following month his party won the election. Cerar was appointed prime minister in August.