Slovakia on eurozone fast track
Of the EU's new Central European members - the Czech Republic, Hungary, Poland and Slovakia, known as the Visegrad Group - Slovakia could be the first to enter eurozone, probably in 2009, according to Slovakian finance minister, Ivan Miklos.
Miklos said, however, that he would prefer the whole group entered together - an idea already floated by several Polish officials.
"Joining the eurozone is more an individual country's effort but if we were able to enter together, I would prefer that," he said before a meeting of EU finance ministers.
Slovakia has sped past other countries in the region in terms of economic reforms recently. Miklos also said that for the euro to remain stable, current eurozone countries would have to reform their finances.
"The question is if the whole project of the euro is sustainable from a long-term perspective. It depends mostly on providing necessary structural reforms and reducing budget deficits in member states," said Miklos. (Reuters)
Miklos said, however, that he would prefer the whole group entered together - an idea already floated by several Polish officials.
"Joining the eurozone is more an individual country's effort but if we were able to enter together, I would prefer that," he said before a meeting of EU finance ministers.
Slovakia has sped past other countries in the region in terms of economic reforms recently. Miklos also said that for the euro to remain stable, current eurozone countries would have to reform their finances.
"The question is if the whole project of the euro is sustainable from a long-term perspective. It depends mostly on providing necessary structural reforms and reducing budget deficits in member states," said Miklos. (Reuters)
