Slovakia joins the Euro

… Czech Republic assumes EU Presidency

Slovakia has become the 16th member of the Eurozone. Prime Minister Fico withdrew 100 euros from a cash machine in the Parliament building on the stroke of midnight. Unlike Prime Minister Gonzi in Malta last year, Fico’s withdrawal occurred without any embarassing hitches. Slovakia follows Slovenia as the second former communist country to join the Eurozone. As Slovakia was joining the euro, the neighbouring Czech republic took over the rotating presidency of the European Union. Notably, Czech president Vaclav Klaus had dismissed this event as being “unimportant” and this had raised mixed feelings among EU circles regarding the Czech presidency dring what is considered to be such a crucial moment of EU development.

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