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The introduction of the euro in Slovenia. COM(2007)233 final


The introduction of the euro in Slovenia. COM(2007)233 final pdf (59 kB) Choose translations of the previous link 

While some unusual price rises occurred in restaurants, bars and coffee shops, consumers' fears about significant systematic price increases related to the changeover were unjustified. According to preliminary analysis, the impact of the changeover on prices was marginal in Slovenia, as it was in the first-wave countries in 2002. Eurostat estimates that the total (one-off) impact of the changeover on consumer price inflation in Slovenia during and after the changeover period could reach the order of 0.3 percentage points. A separate study by the Institute of Macroeconomic Analysis and Development of Slovenia estimated the effect of the changeover on inflation at 0.24 percentage points. Overall, in the first four months of this year prices went up by 1.3%, compared with 1.5% for the same period of 2006, according to information published by the Statistical Office of Slovenia.

"Slovenia's adoption of the euro was a swift and smooth affair. This once more underlines the importance of early and careful preparations and of timely information and communication on the euro," said European Economic and Monetary Affairs Commissioner Joaquín Almunia.

Slovenia’s experience is important as other member states planning to adopt the euro in the future may want to build on that experience. Malta and Cyprus plan to introduce the single currency in 2008, Slovakia in 2009.

The vast majority (95%) of Slovenians believe that the changeover took place smoothly and efficiently, according to a survey conducted at the end of January. More than nine out of ten Slovenian citizens feel well informed about the euro and are satisfied with the level of information they were given by the national authorities. This once more demonstrates the crucial role of information and communication on the euro in ensuring a successful changeover process.

The picture is more mitigated with respect to price conversions, which are generally believed to be fair by only a small majority (56%) of respondents, with 44% holding the opposite view. And only a minority of 38% believe that prices were fairly rounded off during and after the changeover, with 62% believing the opposite.

(Euro related May 2007. )

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