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New euro bill in June

A DRAFT bill on euro adoption in Slovakia should reach the cabinet in June, the Finance Ministry says.

Slovakia plans to adopt the single European currency at the beginning of 2009. The general law on euro adoption that is being prepared will regulate the adoption process, the conversion of Slovak crowns into euros, as well as rules on dual pricing, inspection and supervision.

"Although there is no technical reason for a general increase in prices, there are several ways in which prices might grow at a faster pace," the ministry warned, citing "implementation costs", and rounding off to higher sums in euros.

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