NBS Governor concerned about implementation of the euro

The governor of the National Bank of Slovakia (NBS), Marián Jusko, warned that financing of the country's pension reforms might deepen the public finance deficit so much that Slovakia would be unable to introduce the euro by 2007 as previously mentioned.

In order to join the euro, the deficit of public finances must fall below three percent of GDP.

"The cost of installing the euro appears too high," Jusko told Czech press agency CTK.

The planned pension system reform might increase the deficit of public finances by one percent.

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

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