respect for human rights, the government of law, and the respect for the national minority rights. The recognition of Slovenia therefore indirectly also meant that Slovenia had been meeting the passed criteria. In December 1992, after the independence and the international recognition of Slovenia, Kučan was elected as the first president of Slovenia in the 1992 presidential election, with the support of the citizens list. He won another five-year term in the 1997 election, running again as an independent and again winning the majority in the first round. Drnovšek premiership (1992–2002): Re-orientation of Slovenia's trade Drnovšek was the second Prime Minister of independent Slovenia. He was chosen as a compromise candidate and an expert in economic policy, transcending ideological and programmatic divisions between parties. Drnovšek's governments reoriented Slovenia's trade away from Yugoslavia towards the West and contrary to some other former Communist countries in Eastern Europe, the economic and social transformation followed a gradualist approach. After six months in opposition from May 2000 to Autumn 2000, Drnovšek returned to power again and helped to arrange the first meeting between George W. Bush and Vladimir Putin (Bush-Putin 2001). Drnovšek presidency (2002–2007); EU and NATO membership Drnovšek held the position of the president from 2002 to 2007. During the term, in March 2003, Slovenia held two referendums on joining the EU and NATO. Slovenia joined NATO on 29 March 2004. and the European Union on 1 May 2004. On 1 January 2007 Slovenia joined the Eurozone and adopted the euro as its currency. Janša premiership (2004–2008): Unsustainable growth Janez Janša was Prime Minister of Slovenia from November 2004 to November 2008 for the first time. During the term characterized by over-enthusiasm after joining EU, between 2005 and 2008 the Slovenian banks have seen loan-deposit ratio veering out of control, over-borrowing from foreign banks and then over-crediting private sector, leading to its unsustainable growth. Türk presidency (2007–2012) Danilo Türk held the position of the president from 2007 to 2012. Pahor premiership (2008–2012): Blocked reforms Borut Pahor was Prime Minister of Slovenia from November 2008 until February 2012. Faced by the global economic crisis his government proposed economic reforms, but they were rejected by the opposition leader Janez Janša and blocked by referendums in 2011. On the other hand, the voters voted in favour of an arbitration agreement with Croatia, aimed to solve the border dispute between the countries, emerging after the breakup of