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Plan to protect consumers during euro adoption unveiled

The Economy Ministry has drawn up a blueprint for protecting consumers during euro adoption in response to the widespread opinion that dishonest entrepreneurs will take advantage of the changeover in order to introduce uncontrolled price hikes.

The measures taken will include the setting up supervisory bodies, along with moves to prepare the public for a gradual changeover, so that they will begin to "think in euros". The ministry acknowledges that a lack of information, an unsuitable legal environment and inadequate controls could have an adverse impact mainly on vulnerable groups of consumers.

Retailers will be obliged to display dual prices no later than one month after the changeover conversion rate is announced, while all statements of monetary sums, prices or values in the domestic currency will have to display the euro equivalent.

Slovakia plans to introduce the euro as of January 1, 2009. The official changeover rate will be announced several months in advance.

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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