BUSINESS IN SHORT

Smooth euro switchover in all sectors

THE SWITCH to the European currency went smoothly, fluidly and without any problems in all sectors in Slovakia, especially in the flow of cash as well as cashless payments, reads the report about the adoption of the euro written by the Finance Ministry and the government's plenipotentiary for the euro adoption, Igor Barát. The government cabinet accepted the report on March 25, the SITA newswire reported.

THE SWITCH to the European currency went smoothly, fluidly and without any problems in all sectors in Slovakia, especially in the flow of cash as well as cashless payments, reads the report about the adoption of the euro written by the Finance Ministry and the government's plenipotentiary for the euro adoption, Igor Barát. The government cabinet accepted the report on March 25, the SITA newswire reported.

The report also says Slovakia successfully navigated the 16-day dual cash period when both Slovak crowns and euros were legal tender.

“Businesses as well as the banking sector managed this tough period without any systemic errors or serious problems, including the full operation of the cashless payments system and in cash financial flows in the time periods set by the National Plan,” SITA quoted from the report.

The report also notes that because of the tools used for protection of consumers there were no significant cases of misusing the currency switch to increase prices of products and services.

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