Slovak MEPs embrace the adoption of the euro

Slovakia's adoption of the euro amid fireworks and a rock concert at new year marks one of its most important steps since independence. It came on the same day that former compatriots the Czech Republic took over the six-month European Union presidency. The Slovaks are the 16th nation to adopt the euro and they are hoping a change in currency will provide a cushion in difficult economic times

There was cross-party support among Slovak MEPs in the European Parliament for the adoption of the currency with all 14 backing the euro.
 
Socialist MEP Vladimír Maňka welcomed the euro as “due to the financial crisis the currencies of countries which are not members of eurozone have lost their value - this has harmed people”.  The koruna and euro have been pegged since last year, which “protected” people economically, he added.
 
Christian Democrat Miroslav Mikolášik said, “if the financial crisis had not happened it would have been more profitable to postpone the introduction of the euro. However, the situation has dramatically changed after the outbreak of the financial crisis.”
 
Slovak industry could be cushioned against downturn
 
Supporters are hoping the euro will help Slovakia weather the economic storm as over half of Slovak exports go to countries who use it.
 
One of the industries that will be monitoring the new currency most closely is the car industry. Slovakia is the largest per capita producer of cars in the world.
 
On Tuesday MEPs meeting in Strasbourg will discuss the challenges facing the euro as they celebrate it's 10th anniversary.
 
The new Slovak coins have the images of Bratislava castle, Mount Kriváň in the Tatras Mountains and the national symbol of the Slovak double cross.