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off prices in changeover calculations, as well as for exchanging Slovak crowns for euros after the Slovak currency is no longer valid.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off prices in changeover calculations, as well as for exchanging Slovak crowns for euros after the Slovak currency is no longer valid.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.

Get daily Slovak news directly to your inbox

Top stories

Haščák of Penta detained and accused

Dozens of police officers raided Digital Park, the headquarters of the financial group.

Jaroslav Haščák

Car industry needs to jump on the latest trends

Economy minister promises extensive support for hydrogen technologies in Slovakia.

The Hydrogen Technology Research Centre (CVVT) is to be launched at the end of 2020 or beginning of 2021 in Košice to do R&D in this field.

Responsibility goes hand in hand with EU advantages, says President Čaputová

President Zuzana Čaputová spoke with Vice President of the European Commission for Values and Transparency, Věra Jourová.

President Zuzana Čaputová

Slovak economy will drop more than 6 percent this year

OECD December prognosis expects the economy to grow again next year.

National Bank of Slovakia