ECB publishes convergence report on Slovakia

Despite the European Commission’ recommendation that Slovakia adopt the euro as of January 1, 2009, the European Central Bank said on May 7 that it had "considerable concerns" about the sustainability of inflation convergence in Slovakia.

Despite the European Commission’ recommendation that Slovakia adopt the euro as of January 1, 2009, the European Central Bank said on May 7 that it had "considerable concerns" about the sustainability of inflation convergence in Slovakia.

The dampening effects that the nominal appreciation of the Slovak crown has had against the euro would fade away if the exchange rate were fixed, the SITA newswire wrote, quoting the ECB report.

Also, tight labor market conditions and emerging bottlenecks in specific regions and some labor market segments pose a risk of accelerating wage growth, the report stated. SITA

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

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