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Tvaroška: Current monetary policy appropriate

THE RECORD 7.6 percent growth of the Slovak GDP in the last quarter of 2005 has solid foundations and does not threaten sustained economic development, according to Vladimír Tvaroška, the central bank's new vice-governor for monetary policy. Tvaroška, who will be responsible for the introduction of the euro in Slovakia, replaces Elena Kohútiková, whose term ends on March 27.

Tvaroška said that the bank's monetary policy is appropriate at the moment, but that he needs to analyze a lot of information before weighing his next moves, the TASR news agency wrote.

"The main priority is clear - to adopt the euro in 2009," Tvaroška said.

Slovakia plans to fulfil all the conditions for the introduction of the euro by 2007. Tvaroška believes this date is feasible as long as no unexpected external event occurs - such as an extreme rise in crude oil prices - and provided that the next government continues the policies of the current government.

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