ECONOMY: BRATISLAVA, "GOODBYE KORUNA, WELCOME EURO"

"Goodbye Koruna, Welcome Euro" is the theme of the celebrations that are to take place in Bratislava on January 8 on the occasion of Slovakia joining the euro area. The national government and the European Commission will celebrate the "successful" adoption of the currency by Slovakia on the 1st of January. "Slovakia became the 16th European Union country to adopt the euro," explained the Commission "and the currency is now shared by nearly 329 million Europeans including 5.4 million Slovaks." "No major problems have been encountered by costumers and retailers" during the first week the euro was circulating. Nearly half of citizens polled said they were using euro for everyday shopping. The dual circulation period during which the euro and the corona will continue to circulate alongside will end on 16 January. Even banks have switched to the new system and their "IT system had been successfully converted by Saturday 3 January." The Commission reported "some queues at shops, but the people of Slovakia were generally patient and welcomed the European currency with enthusiasm". As for the prices, according to EUROSTAT, the inflation in the euro area was down to 1.6% in December from 2.1% the previous month.

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