FINWIRE®

Slovakia to join the Eurozone on January 1st

January 15th, 2009

The European Liberal Youth (LYMEC) welcomes the introduction of the common currency in Slovakia. On January 1st 2009, the country will join the ranks of currently 15 member states that use the Euro.

Slovakia is a high-income economy according to the World Bank with one of the fastest growth rates in the European Union.

LYMEC Vice President Alexander Plahr declares: “Having a common currency and a common market will lead to further political integration as well as contribute to the feeling of belonging together as Europeans”.

“At the same time, it brings many economic benefits such as reducing transaction costs and exchange rate risks as well as making prices transparent, thereby bringing them down in the long run.”

On a side note, liberals from across Europe will have the possibility to use the new Slovak Euro coins next May, when LYMEC conducts a seminar on civil rights in Bratislava and Vienna.

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