Slovakia on track to adopt euro in 2009
{{date|March 14, 2005}}
[[Image:Flag of Slovakia.png|thumb|150px|left|Slovakia, a Central European country of 5.4 million, is set to adopt the common European currency in 2009]]
[[Slovakia]] is on track to meet its target of adopting the {{w|euro}} currency in 2009, claims {{w|Joaquín Almunia}}, the [[European Union]]'s Monetary Affairs Commissioner.

The main monetary figures and the fiscal situation "are going in a good direction," Almunia said. "If things continue as they are today, I'm sure the Slovak authorities will meet the target of being a member of the eurozone in 2009."

{{missing image|Image:1euro 2007.jpg|thumb|200px|right|1 euro coin}}

Slovakia joined the European Union last year along with other {{w|Central Europe|Central European}}, {{w|Baltic}}, and [[Mediterranean]] states. The {{w|Economic growth|growth rate}} of its {{w|Gross domestic product|GDP}} has been one of the highest in the European Union, recording 5.5% growth in 2004. Almunia said that authorities should use this growth to curb the country's relatively high budget deficit, a necessary prerequisite for joining the euro zone.

Before a country adopts the euro currency, it must dwell in the {{w|ERM II|European Exchange Rate Mechanism II}} for two years, where its exchange rate relative to the euro, as well as its budget deficit and inflation, are closely monitored. For Slovakia to adopt the euro in 2009, it must join ERM II in 2007. Three new members, [[Slovenia]], [[Estonia]], and [[Lithuania]], have already joined ERM II and are on track to adopt the euro in 2006&ndash;2007.
{{haveyoursay}}
==References==

*{{source|url=http://www.forbes.com/home/feeds/ap/2005/03/10/ap1876581.html | title=  Almunia: Slovakia on Track to Adopt Euro| author= |pub=Forbes |date=March 10, 2005}}

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[[Category:Slovakia]]
[[Category:Europe]]
[[Category:European Union]]
[[Category:Economy and business]]
[[Category:Euro]]
[[Category:Currency]]

[[es:Eslovaquia adoptará el euro en 2009]]
[[sv:2005/03/14: Slovakien klart för euro 2009]]
Slovakia, a Central European country of 5.4 million, is set to adopt the common European currency in 2009
Slovakia is on track to meet its target of adopting the Joaquín Almunia, the European Union's Monetary Affairs Commissioner.

The main monetary figures and the fiscal situation "are going in a good direction," Almunia said. "If things continue as they are today, I'm sure the Slovak authorities will meet the target of being a member of the eurozone in 2009."

Slovakia joined the European Union last year along with other Central European, Economic growth|growth rate of its GDP has been one of the highest in the European Union, recording 5.5% growth in 2004. Almunia said that authorities should use this growth to curb the country's relatively high budget deficit, a necessary prerequisite for joining the euro zone.

Before a country adopts the euro currency, it must dwell in the European Exchange Rate Mechanism II for two years, where its exchange rate relative to the euro, as well as its budget deficit and inflation, are closely monitored. For Slovakia to adopt the euro in 2009, it must join ERM II in 2007. Three new members, Slovenia, Estonia, and Lithuania, have already joined ERM II and are on track to adopt the euro in 2006–2007.

es:Eslovaquia adoptará el euro en 2009
sv:2005/03/14: Slovakien klart för euro 2009
Slovakia Europe European Union Economy and business Euro Currency