Spectator on facebook

Spectator on facebook

THE QUARTER IN BUSINESS

Gašparovič signs act on Euro introduction

President Ivan Gašparovič on December 13 signed the Act on the Introduction of the Euro in Slovakia, a “general law” underpinning the adoption of the new currency that had been approved by parliament on November 28. The act regulates currency circulation and pricing, and sets rules for rounding off prices in changeover calculations, as well as for exchanging Slovak crowns for euros after the Slovak currency is no longer valid.

(Source: SITA)

President Ivan Gašparovič on December 13 signed the Act on the Introduction of the Euro in Slovakia, a “general law” underpinning the adoption of the new currency that had been approved by parliament on November 28. The act regulates currency circulation and pricing, and sets rules for rounding off prices in changeover calculations, as well as for exchanging Slovak crowns for euros after the Slovak currency is no longer valid.

The law does not affect whether or not Slovakia meets the Maastricht economic criteria for Euro adoption, nor does it mention Slovakia’s macro-economic or currency readiness for joining the Euro-zone.

On the other hand, it amends the Act on the Slovak Central Bank to ensure that powers relating to currency and issuing banknotes and coins will be transferred smoothly from the National Bank of Slovakia to the European Central Bank.

Top stories

Chinese are closer to taking over Košice steelworks

The sale may be completed early next year, according to reports.

U.S. Steel Košice

Third anti-corruption march drew thousands Photo

The only demand that has been met to date is the abrogation of Vladimír Mečiar’s amnesties by parliament.

The anti-corruption march

Blog: In Slovakia, tradition is key

The year round, the calendar is filled to the brim with traditional habits, happenings that seem to go back centuries.

Traditional "vinobranie" event in Pezinok.

Ballet legend Sergei Polunin will be guest of SND

The world-renowned personality of contemporary ballet will present two choreographies at the Slovak National Theatre in September.

Sergei Polunin