According to a poll carried out on behalf of the European Commission, the introduction of the euro to replace the old koruna is going smoothly for Slovaks. ATMs in Slovakia have been delivering euro cash since 1 January 2009, while banks remained open for longer to allow for last-minute exchanges.
In fact, over half of the population had already euro notes and coins before the changeover, obtained via trips abroad or the 1.2 million starter kits delivered since December at a value of €16.60.
To avoid the inflationary effect seen in older eurozone countries in the wake of the changeover, Slovak authorities have been pushing retailers to adopt an ethical code. Some 16,000 shops have undersigned the initiative, which will allow Slovak citizens to compare prices in euro and koruna until 1 January 2010.
"By joining the euro area, Slovakia has enhanced its long-term potential to create growth and jobs and keep inflation under control. But the euro is more than just money. Slovakia is a powerful symbol of economic and political progress and of European integration," reads a statement by European Commission President José Manuel Barroso.
Slovak Prime Minister Robert Fico described the adoption of the euro as last year's biggest success for his government. "Today, Poles, Hungarians and Czechs would give anything to be at the same start line as we are in relation to the euro," he said.
Fico hopes Slovakia will become the first country not to experience rising inflation and fluctuating prices in the wake of the currency's adoption, he told Slovak radio.
Meanwhile, in addition to traditional euro cash, Slovak pockets are also heavy with new €2 commemorative coins issued to celebrate ten years of the euro. 84 million such coins have been circulating throughout the euro zone since New Year's Day. Citizens chose the winning design by electronic vote.
The coin reminds eurozone inhabitants that the common currency has been in use since 1 January 1999 if electronic transactions are taken into account. Actual euro coins and notes reached citizens' pockets three years later, on 1 January 2002.
EU Commissioner for Economic and Monetary Affairs Joaquin Almunia believes he has cause to celebrate, describing the common currency as a great success, particularly since the beginning of the current global economic difficulties.
"The euro is proving to be a solid stabilising factor in currency markets both inside and outside the euro area. This is no mean feat as no other markets, from banking to securities, have been spared by the global financial and economic crisis. We should be proud of that record and we must safeguard the sound budgetary and macroeconomic framework that has made the euro such a success," Almunia said in a statement, noting that the common currency had also contributed to creating 16 million jobs and helped to deliver lower inflation.
Commission President Barroso, Commissioner Almunia and the Slovak EU commissioner responsible for education, Jan Figel', will attend a ceremony in the Slovak capital Bratislava on 8 January to conclude celebrations of the country's adoption of the euro.
