Spectator on facebook

Spectator on facebook

BUSINESS SHORTS

Government adopts law on euro introduction

THE SLOVAK Cabinet has approved a bill aimed at ensuring a smooth transition from the Slovak currency to the euro.

The Law on Euro Adoption, passed by cabinet on September 26, still has to be approved by the parliament, the TASR newswire wrote.

The bill deals with the dual circulation of the Slovak crown and euro, dual pricing, rules for rounding up and down prices in converting crowns to euros, and rules for exchanging crowns in cash after the Slovak currency goes out of circulation.

However, the bill doesn't address the Maastricht criteria for euro adoption, nor macroeconomic or monetary policies related to Slovakia's eurozone entry. Slovakia plans to introduce the euro at the start of 2009.

The bill also amends the laws on the National Bank of Slovakia (NBS), transferring its authority in monetary policy and currency circulation to the European Central Bank.

Top stories

When the state can’t keep a secret

A selective leak has tarnished President Kiska’s reputation. But he must continue to speak out about corruption.

President Andrej Kiska

Austria launches random checks close to Slovakia’s borders

Refugees are using new smuggling routes, according to the Austrian minister.

Illustrative stock photo

Unemployment rate continues to decline

The still steeper fall in unemployment could be curbed by the type of jobseekers, analysts opine.

Carmakers have already complained about the lack of qualified labour.

Coalition only agrees on how to talk. But what will they talk about?

Budget talks to decide on concrete policies. Danko wants airplanes, Fico wants better pay for nights and weekends.

Danko, Fico, Bugar.