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The Warsaw Voice » Business » July 9, 2008
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Slovakia to Adopt Euro
July 9, 2008 By L.¯.    
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EU heads of state and government confirmed Slovakia's readiness to join the eurozone on Jan. 1, 2009, as they gathered for a summit in Brussels June 19-20. EU finance ministers are expected to fix the rate for exchanging the Slovak koruna for the euro in July.

Slovakia will become the 16th member of the eurozone and the fourth of the 10 EU 2004 newcomers to adopt the euro, following Slovenia, Malta and Cyprus. Slovakia entered the ERM2 exchange rate mechanism, the waiting room for the euro, in 2005. Its bid received the green light from the EU finance ministers on June 3. The ministers agreed with the European Commission's May assessment that Slovakia had provided for legal compliance and reached a high level of sustainable convergence, thus meeting the Maastricht Treaty criteria for euro adoption.
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