Good-bye koruna, welcome euro: Slovaks celebrate the first year in Eurozone
Slovak Republic is the closest to the Baltic States country, which entered into the EU common currency union a year ago. It was a lucky move for Slovak state to make for the euro-zone on the eve of the crisis. However, expensive euro made some country’s goods and services comparatively expensive. The Baltic States probably can learn something from the former „socialist neighbour“.
Slovaks celebrate first year in the eurozone on 8 January with a gala event entitled „Good-bye koruna, welcome euro“.
Euro, actually served as a kind of „shield“ for the country; most experts regard it that the eurozone membership spared the country the worst effects of last year’s economic crisis. Getting into the euro just before the global economic crisis, which hit the region saved Slovakia from the wild currency swings that affected most of eastern and central European states. Some argue, that it was less certain whether being in the common currency did much to help the economy in 2009 (Cienski J., in Financial Times, January 8, 2010).
Full text at the website of The Baltic Course Good-bye koruna, welcome euro: Slovaks celebrate the first year in Eurozone
