Slovakia joins the Eurozone

After passing through the border, travellers need to exchange their money for the local currency. It’s a bit tiresome, but it’s pleasant. Slovakia just started to use the EURO ,so I could use the national currency of Slovak koruna when I travelled in Slovakia in 2007.

Anyway, it seemed that Česká republika beat Slovakia to the punch, they were burning with jealousy.

¶Slovakia has become the 16th member of the eurozone – the second former communist country to join the grouping. […] ¶Slovakia sees its adoption of the euro as a shield from the turbulence that has hit currencies in neighbouring ex-Soviet bloc countries. ¶The koruna has been pegged at a rate of 30.126 to the euro since July, while Poland’s zloty has lost 24% against the euro, the Czech koruna 11% and the Hungarian forint 13%, Bloomberg news reports. […] ¶Slovakia has enjoyed rapid economic growth since joining the European Union in 2004. ¶But the euro’s strength may make life harder for Slovakia’s exporters – particularly its big car industry – in the current economic downturn, correspondents say.¶Slovakia’s cabinet is counting on 4.6% economic growth, down from a peak of 10.4% in 2007, Reuters reports. […] .

Full text is here. Referenced from BBC News, 1 January, 2009

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