Following its independence, Slovenia was placed amongst the most developed transitional countries with a huge potential for progress. However, it had one chronic problem – inflation. The 1990s were economically exceptionally unstable for Slovenia. Numerous insufficient reforms and ineffective economic policies resulted in a relatively slow process of disinflation through which Slovenia lost its very good position, compared with other countries in transition. However, by turning towards European integration at the threshold of the new millenium, making changes in economic policies and an intense implementation of reform, Slovenia successfully met the conditions of the governing bodies and, in mid 2004, entered the European Union and the ERM 2. Only two and a half years later, on the 1st January 2007, it joined the Eurozone via the 'big bang' scenario. Slovenia made good short-term use of its membership of this monetary union with the most developed countries of Europe and saw growth in almost all relevant economic indicators. However, in the long-term perspective, the key word describing the Slovenian results is stagnation. In the majority of indicators of convergence with the most developed countries of the Union, Slovenia remained stagnant for a ten year period, despite the very good starting position at the point of entering the Eurozone. This definitively cannot be satisfactory. Taking into account the high growth of foreign trade and a significant increase of export capacity during its Eurozone membership, Slovenia has the potential to converge with the most developed countries of the European Union in the near future.