Central Banking

Euro adds to Slovakia's New Year celebrations

Slovakia became the 16th country to join the Eurosystem on New Year's Day, an achievement few predicted would happen so soon after it joined the European Union less than five years ago.

Ivan Sramko, the governor of the National Bank of Slovakia, said the event will "crown" two decades of reforms in the country, which had, he said, "undergone a particularly complicated period of fulfilling the difficult criteria."

The economy has achieved a remarkable turnaround after a coalition in September 2002

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