Press Release: Commission assesses readiness of 10 EU countries to adopt the euro; proposes Slovakia joins euro area in 2009

The European Commission concluded that Slovakia meets the criteria for adopting the euro and made a proposal to the Council to this effect. The regular Convergence Report on euro readiness, adopted by the Commission, showed that the other nine countries with a so-called 'derogation' have made progress on the road to the single currency, but do not yet meet all the conditions for euro adoption. The Council of EU finance ministers (ECOFIN) will take the final decision on the adoption of the euro in Slovakia in July, after Parliament has given its opinion and EU heads of state and government have discussed the subject at their summit meeting in June.