NEWS

Prime Minister attends euro celebration in Slovakia

The Prime Minister of the Republic of Slovenia, Borut Pahor, today attended a celebration in Bratislava marking the introduction of the euro in Slovakia. In the Prime Minister’s words, this event is not solely a celebration for Slovakia – which became the 16th member of the euro area – but for all other EU member states as well. The circumstances surrounding Slovakia’s adoption of the euro are the right ones and the common currency will better equip Slovakia to overcome the current global economic and financial uncertainty.

 

(Foto: Bobo)

 

According to Prime Minister Pahor, adopting the euro was an important investment for Slovenia, since its two-year membership of the euro area enhances its security in all fields and facilitates its response to the consequences of the global economic downturn. Politics should pay attention to ensuing price increases, because, in his view, this is a major factor in the introduction of the euro. Slovakia has prepared itself for this by establishing a group of experts who will monitor price fluctuations, which is extremely useful. He advised his Slovakian counterpart that this group should continue with its work for as long as possible in order to avoid the sudden increase in prices experienced by Slovenia when politicians and non-governmental organisations were not paying adequate attention.

 

On the occasion of this celebration, the Prime Minister noted that over recent years the euro had become a very strong currency. In this respect he pointed out the role of the European Central Bank and its successful monetary policy in the euro area, and, in particular, its recent measures for a drastic cut in interest rates which preserved the euro as a currency protecting all countries which have adopted it.