European Commission gives green light to euro adoption in Slovakia

The euro will become Slovakia's official currency in 2009. A convergence report issued by the European Commission (EC) states that the country's fulfilment of the Maastricht Criteria is sustainable, the SITA newswire wrote. The EC has recommended Slovakia's admission to the eurozone as of January 2009, which will make it the sixteenth member of the euro club. Its recommendation is regarded as key. A more-or-less formal approval of Slovakia's entry to the eurozone will now take place in other European institutions. Only a few weeks separate Slovakia from the final decision about its admission to the eurozone, which follows the EC’s recommendation. During this period, the European Parliament will provide its viewpoint. The Council of EU ministers of economy and finance will announce their view on June 3. Afterwards, a summit of European heads of state and government will take place on June 19-20. In compliance with the decision of the Council of European Heads of State and Government, the Council of European ministers of economy and finance will give the go-ahead to Slovakia’s adoption of the euro and approve the conversion rate. SITA
b>Compiled by Zuzana Vilikovská from press reports
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