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01/01/2009 : Slovakia joins the euro

The European Commission is closely monitoring the changeover to the euro in Slovakia that started on 1 January 2009. News updates on the latest developments, based on surveys conducted by the Commission and the national authorities, will be available daily from 1 January to 16 January 2009.

Slovakia adopted the euro today

Today, the euro area has two reasons to celebrate: the number of European Union countries that share the same currency grew to 16 with Slovakia and it is the 10th anniversary of the euro. All available data indicate that the changeover from the Slovak koruna went well. Citizens are able to withdraw euro cash from ATMs all over Slovakia and to use it for daily payments.

Commission President José Manuel Barroso said: "On this tenth anniversary of the euro, I congratulate Slovakia and warmly welcome all its citizens to the euro area. The euro will help Slovakia to take part in, and benefit from, Europe's collective effort to recover from the current economic crisis. 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. On this historic New Year's Day, Slovakia is a powerful symbol of economic and political progress and of European integration."

"This is an exciting moment for the euro area but also for the EU as a whole as Slovakia becomes the 16th country to adopt the euro and the European currency celebrates its 10th anniversary. The euro has become the symbol of EU identity and 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. The Commission certainly has every intention to apply the Stability and Growth Pact and to carry on with its budgetary surveillance duties conferred by the Treaty," said Joaquín Almunia, European Commissioner for Economic and Monetary Affairs.

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