Comment: Euro adoption order changes

Slovakia's decision on Friday 25 November to join the Exchange Rate Mechanism II (ERM II) with immediate effect took markets by surprise. Policymakers had been saying they were aiming at mid-2006 for joining the ERM II, which serves as a crucial precursor to adopting the euro.

COMMENT BY CENTRALBANKNET

Following this decision, the order in which the 10 countries that joined the European Union (EU) in May last year will adopt the euro looks rather different to what was first envisaged.

Slovakia's

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