NEWS IN SHORT

EP says "Yes“ to Slovak Eurozone entry

THE EUROPEAN Parliament (EP) issued a report on June 17 that declared its support for Slovakia’s entry into the Eurozone.

THE EUROPEAN Parliament (EP) issued a report on June 17 that declared its support for Slovakia’s entry into the Eurozone.

Slovak MEP Vladimír Maňka told the SITA newswire that 572 votes supported the report by Maltese MEP David Casa. Seventeen MEPs voted against it and 86 abstained.

The EP’s vote of confidence is heartening, though largely symbolic, as the European Commission and the European Union Council have the final word.

But while stating that Slovakia is ready for Eurozone membership, the EP, like other European authorities, called on it to keep inflation low and continue structural reforms.
Slovakia plans to adopt the European single currency as of January 1, 2009.

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