Slovenia has transitioned into a market economy from its previous command economy state under the former Yugoslav Federation. Slovenia joined the European Union in 2004, adopted the Euro in 2007 and joined the OECD in 2012. As a result, the legislative framework is harmonized with EU standards, corruption is low, and the country is open to foreign direct investment. Although contract enforcement is not judged well according to the World Bank, this reflects a lack of efficient court system.