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IN SHORT

Šramko: Euro will solve exchange rate risks

THE INTRODUCTION of the common European currency in Slovakia will solve a significant problem in terms of the inherent exchange rate risks faced by entrepreneurs, National Bank of Slovakia (NBS) Governor Ivan Šramko said June 9.

Šramko added, "If there's an end to the exchange rate risk, the NBS will move into a balanced or surplus management regimen."

Recently, the NBS has posted losses because of the strengthening of the Slovak crown, the TASR news agency wrote.

"None of the neighbouring countries denies the usefulness of being in the eurozone. Only Hungary has not opened discussions concerning this topic because of its macroeconomic problems," Šramko added.

Šramko also said that the loss of the importance of the NBS in favour of the European Central Bank would be one of the effects of adopting the common European currency.

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