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Slovakia to adopt the euro, euro turns 10

30 Dec '08
5 min read

Slovakia ready for € changeover - Preparations for the euro in Slovakia are now completed. Commercial banks received the banknotes and coins from September and have supplied them to shops and other businesses so that they handle payments and return change in euro from the 1st of January.

Citizens were able to buy mini kits of euro coins to acquaint themselves with their new currency. They also benefited from a large information campaign, including TV spots and a touring information bus. Their concerns about price increases were taken seriously by the Slovak authorities that put in place a number of measures, including an Ethical Code signed by business whereby they undertake to respect the changeover rules. The display of prices in both euro and koruna is compulsory since 24 August and until 1 January 2010.

The respect of the changeover rules is carefully monitored by the Slovak Trade Inspection, which has visited more than 15,000 shops and service providers since August. The inspectors corrected shortcomings in dual display of prices when found and checked on price movements, particularly in sensitive sectors where problems were experienced in the previous changeovers. The Association of Slovak Consumers also plays a key role in checking price developments. The Commission actively supported the communication campaign under a Partnership agreement of December 2007.

Businesses and public administrations prepared themselves well in advance and their personnel were duly trained (especially for those in direct contact with the public).

To facilitate the changeover, the National Bank of Slovakia and commercial banks will be exceptionally open on 1 January as well as on the weekend of 3-4 January.

President Barroso, Commissioner Almunia and Education Commissioner and Slovak national Ján Figel will attend a ceremony in the Slovak capital Bratislava, on 8 January, to celebrate the adoption of the euro by Slovakia.

European Union

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