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Slovakia to Join Eurozone in 2009

Politics » BULGARIA IN EU | July 8, 2008, Tuesday // 00:00

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Slovakia to Join Eurozone in 2009: Slovakia to Join Eurozone in 2009

Slovakia will become the 16th member of the Eurozone on January 1, 2009. Map by wikipedia.org

The ECOFIN, the Council of the Finance Ministers of the EU states, approved formally on Tuesday Slovakia's accession to the Eurozone on January 1, 2009.

On May 7, 2008, the European Central Bank, and the European Commission gave green light to Slovakia's joining the Eurozone in 2009.

The two institutions pointed out that the country had fulfilled all Maastricht Treaty criteria for adopting the common European currency.

The ECB, however, has expressed its serious concerns from the potential rise of inflation in Slovakia.

Thus, Slovakia will become the 16th EU member, and the second former Communist Bloc state to adopt the euro,

Bulgaria, which joined the EU on the same date when Slovenia joined the Eurozone - January 1, 2007, is not expected to be ready to adopt the euro until 2013.

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