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Slovakia is ready to Eurozone
6 April 2008Slovakia can become the second country in the East Europe, which will join Eurozone. As the Eurocommissioner concerning economy and credit policy has informed journalists, the final decision on this question will be accepted on May, 7th, 2008.
The final answer to a question, whether Slovakia is ready to transition to euro will be known from information on key economic questions of this country which will be already published within the nearest weeks. After that it will become clear, whether Bratislava has executed EU’s requirements.
If on May, 7th, the decision on Slovakia’s entrance to Eurozone will be really accepted, in 2009, the currency of the EU will replace the local crone, which has replaced a crone of Czechoslovakia after declaration by republic of independence in 1993.
Now the euro is used in such countries as Austria, Belgium, Greece, Ireland, Spain, Italy, the Netherlands, Luxembourg, Germany, Portugal, Finland, France, Slovenia, on Cyprus and Malta.
It is necessary to note, that as a whole EU rather skeptically concerns to euro introduction in the countries which have joined the Union within the last 10 years. There are greater doubts that former members of socialist camp have really managed to make up for backlog from the states of the Western Europe.
At the same time it is necessary to note, that all is far not “old” EU members have agreed to enter European currency. Sweden, Denmark and the Great Britain still refuse this step, not wishing to unite the financial systems with neighbors.
- Inflation does not allow Baltic to join Eurozone
- Cyprus is ready to enter Eurozone by the end of 2008
- In the II quarter 2007 gross national product in the EU countries has grown on 0,3 %
- Fitch Ratings predicts economic recession in 2008
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