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Trichet: Slovakia is preparing very well for the euro

EUROPEAN Central Bank President Jean-Claude Trichet praised Slovakia’s preparations for the euro at a press conference during the Slovakia Euro Changeover Conference in Bratislava on September 22.

EUROPEAN Central Bank President Jean-Claude Trichet praised Slovakia’s preparations for the euro at a press conference during the Slovakia Euro Changeover Conference in Bratislava on September 22.

"Slovakia is preparing very well for the euro and I am convinced that the switchover to the new currency will be successful," the ECB president said, as quoted by the SITA newswire.

Trichet mentioned that the country has benefited from the experiences of old eurozone members and newcomers. But the ECB chief cautioned that euro adoption does not mean the country’s work is done. A responsible fiscal policy and structural reforms must go on, he said.

Prime Minister Robert Fico announced that individual meetings with the ECB head and Commissioner Joaquin Almunia confirmed their positive perception of euro-related preparations in Slovakia.

Trichet and Almunia said at the conference that Slovakia could face inflationary pressures after euro adoption, the ČTK newswire wrote.

According to Finance Minister Ján Počiatek, the country is preparing measures to combat growing prices.

"We have assured our partners that it is a sincere struggle and that we will undergo it using all options at our disposal," Počiatek told journalists.


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