Spectator on facebook

Spectator on facebook

Eurozone entry brings better ratings

Standard & Poor's raised its sovereign ratings on Slovakia to "A+" from "A" in late November, saying that the continued improvement in the country's economic competitiveness would be supported by its 2009 entry into the euro zone.

(Source: Reuters)

Standard & Poor's raised its sovereign ratings on Slovakia to "A+" from "A" in late November, saying that the continued improvement in the country's economic competitiveness would be supported by its 2009 entry into the euro zone.

The ratings agency, which also affirmed Slovakia's "A-1" short-term ratings, said the upgrade was also supported by the country's modest debt burden and its investment-oriented policies.
"The upgrade reflects the prospect of continued improvement in Slovakia's competitiveness and potential as the economy expands and diversifies in the wake of a series of business-friendly reforms," S&P said.

Although Slovakia's impending adoption of the common currency would reduce its economic policy flexibility, euro zone membership would also mitigate its balance of payments risk and consequently boost investment, S&P said.

However, Slovakia would have to undertake further public sector reforms tackling structural unemployment to sustain balanced and sustainable economic growth, it added. Rival ratings agencies Fitch and Moody's have rated Slovakia "A+" and "A-1" respectively.

Top stories

How did Communism happen in Czechoslovakia?

For the 40 years, Czechs and Slovaks would celebrate February 25 as Victorious February, even though the enthusiasm of most of those who supported Communists in 1948 would very quickly evaporate.

Prime Minister Klement Gottwald (right) swears an oath into the hands of President Edvard Benes on February 27, 1948 at the Prague Castle.

Cemetery with a remarkable creative concept Photo

The shapes of tombstones were prescribed until 1997

Vrakuňa Cemetery in Bratislava

Being young is harder than it used to be

The failure of older generations to sympathise with youth means politics are primarily a contest of who can hand out more gifts to old people.

Young Slovaks have problems finding proper jobs.

Historian: After 1948, Czechoslovakia was paralysed with fear

On February 25, Czechs and Slovaks mark 70 years since the rise of Communism in their common state. Historian Jan Pešek talks about the coup and its aftermath.

Demonstration in Prague, Wenceslas' Square, on February 28, 1948.