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Global impact may trigger price growth after euro adoption

Although businesses are adopting the Ethical Code that commits them to not raising prices after the euro adoption in Slovakia next year, it may happen that they will not be able to avert price rises, one expert says.

Although businesses are adopting the Ethical Code that commits them to not raising prices after the euro adoption in Slovakia next year, it may happen that they will not be able to avert price rises, one expert says.

Tomáš Malatinský, president of the Association of Employers (AZZZ), said at the Slovakia Euro Changeover Conference that the reason for such development isn’t necessarily the euro itself but rather global influences.

"Businesses simply cannot regulate certain influences," he added.

So it can happen that businesses will have to respond to, for instance, the growth of raw materials caused by the Europe-wide or in some cases even global inflation.

"Maybe, greater attention should be paid to this possibility in the information campaign about the euro," he suggested.

The corporate sector perceives euro adoption very positively, although its real impact will only be completely known in the future. SITA

Compiled by Zuzana Vilikovská from press reports
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