Wednesday, December 31, 2008
Slovakia becomes 16th Member of the Eurozone
Just five years after joining the European Union, Slovakia is scheduled to become the 16th member of the eurozone in January 2009. Slovakia has experienced the strongest growth rates in Europe, but at the same time has been able to keep inflation under the threshold requirements. Slovakia will be the first Central European member to join the euro and the poorest one to date, with 67% of the eurozone's average gross domestic product. Slovakia's entry into Europe's monetary union is being closely watched by other eurozone hopefuls such as Poland and Hungary.