Slovakia History of the euro

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slovak euro coins starting set


slovakia adopted euro on 1 january 2009. koruna part of erm ii 28 november 2005, requiring trade within 15% of agreed central rate; rate changed on 17 march 2007 , again on 28 may 2008. rate of 30.126 skk may 2008 confirmed on 8 july 2008.


to assist process of conversion euro, on 1 april 2008, national bank of slovakia (nbs) announced plan withdrawal of slovak koruna notes , coins. few days later, on 5 april 2008, slovakia officially applied enter eurozone. on 7 may 2008, european commission approved application , asked member states endorse bid during eu finance ministers meeting in july 2008.


slovakia fulfilled euro convergence criteria. @ 2.2%, slovakia s twelve-month inflation below 3.2% threshold. however, march 2008 annual inflation 3.6%. fiscal deficit 2.2% versus reference value of 3.0%. , finally, government debt ratio 29.4% of gdp in 2007, below maximum ratio of 60.0%. public opinion supported switch, 58% in favour , 35% opposed, 65% worried inflationary impacts of adoption. 3 months after adoption of currency 83 percent of slovaks consider slovakia s decision adopt euro have been right.


publicity transition koruna euro on 1 january 2009 included euromobile , professional actor driving around countryside holding impromptu quiz shows euro. winners received euro t-shirts, euro conversion calculators, , chocolate euro coins. euro starter kits, available 500 koruna, popular christmas gift in 2008. coins therein, however, not valid legal tender in eurozone until 1 january 2009, koruna exchanged through 17 january 2009, though redeemable @ central bank in bratislava until date determined. using slovakian euro coins before 1 january have been fined. businesses using transition raise prices subject penalty.








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