21080Re: Euro go-ahead
- May 7, 2008As expected the European Commission has recommended today that
Slovakia adopt the euro on Jan. 1, 2009. A report is below.
votruba "at" pitt "dot" edu
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EU: No Country But Slovakia Meets Euro Adoption Criteria
DOW JONES NEWSWIRES, 5/7/2008 -- No other country but Slovakia meets
the criteria for euro adoption, the European Commission said Wednesday
in its latest convergence report, giving a green light to Slovakia's
bid to join the euro zone.
The commission, the E.U.'s executive arm, along with the European
Central Bank, reports at least once every two years on the progress
made by E.U. member states in fulfilling obligations to achieve
economic and monetary union.
Slovakia received recommendation from the European Union Wednesday to
join the fifteen member state-strong euro-zone, and is lined-up to
become the fourth country in two years to join the club after Slovenia
did so on the first day of 2007. Cyprus and Malta entered at the
beginning of this year.
Poland, Hungary, the Czech Republic, and the Baltic states of
Lithuania, Latvia and Estonia joined the E.U. along with Slovakia in
May 2004, while Romania and Bulgaria were the latest to join the
twenty-seven member free-trade block in January 2007.
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