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21080Re: Euro go-ahead

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  • Martin Votruba
    May 7, 2008
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      As 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

      x x x

      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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