Re: Postponement of euro adoption could weaken country's rating, Flash News Briefs, Volume 12, Number 25, June 26 - July 2, 2006
I would think that adoption of the Euro would be harmful as far as small private investments are concerned. It is the relative "weakness" of the Slovak currency, now at about 50 to the pound, that encourages people here to look at Slovakia as a good place to spend money. Whether this is on housing, holidays or small-medium business creation, it must in the long term be more important than the running and selling-off of the inefficient, monolithic state-owned firms. And Oscar of Belgium was right to say that controlling your own currency is an important tool in economic control. An interest rate set for France and Germany is not necessarily what is needed for Slovakia, Britain and Denmark.