Slovakia to Join Eurozone on January 1st

Image via WikipediaOn January 1st the Slovak koruna will join the French Franc, the German Deutschmark and the Irish Punt in the history of Currencies as Slovakia will officially join the eurozone and begin to use the notes and coins as of January 1st. The fixed exchange rate is €1 = 30.1260SKK.

With Slovakia joining it will increase the Eurozone to 16 members of the EU. The number of people using the euro will increase by over 5 million. This will make travel and business between Slovakia and the other Eurozone members easier.

Under the accession treaties for Countries who acceded to the EU in 2004 and 2007 are compelled to join the Euro. Of the post 2004 member states, Slovenia was the first to join in 2007 with Malta and Cyprus following at the start of this year.

2010 will see no countries joining the Euro, but Estonia is aiming for a 2011 changeover. Bulgaria, the Czech Republic, Latvia and Poland are all aiming for a 2012 date for joining the Euro. Poland will have a long road to the Euro as it must hold a referendum and change its Constitution and join ERM II in the first quarter of next year, it is looking unlikely.

Lithuania was hoping to join the Euro in 2007 but high inflation forced the Government to change its plans. Lithuania is currently hoping to join the Euro in 2013.


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Lisbon Treaty: State of Play April 11th

Slovakia has become the latest member state to ratify the treaty after it was used as a political football over a media bill. The List below is also updated to reflect the fact that Austria's National Council has passed the treaty.

Austria - Parliamentary Vote. In Progress. Passed the Nationalrat on 9th April. Vote due in Bundesrat on the 24th April

Belgium - Parliamentary Vote. In Progress. Has passed the Senate (6th March) and the Chamber of Representatives (10th April). The treaty still has to pass the Brussels Regional Parliament, Flemish Parliament, Walloon Parliament, French Community Parliament and the German-speaking Community Parliament all due Mid-July

Bulgaria - Parliamentary Vote. Approved 21/3/2008

Cyprus - Parliamentary Vote.

Czech Republic - Parliamentary Vote. In Progress.

Denmark - Parliamentary Vote. In Progress. Vote due in June.

Estonia - Parliamentary Vote. In Progress. Vote due in May.

Finland - Parliamentary Vote. Vote due in the Autumn.

France - Parliamentary Vote. Approved : 08/02/2008

Germany - Parliamentary Vote. In Progress. The Bundestag is due to vote on the 25th of April and the Bundesrat is due to vote on the 23rd of May.

Greece - Parliamentary Vote. Vote due in Spring.

Hungary - Parliamentary Vote. Approved : 17/12/2007

Republic of Ireland - Referendum. Referendum due on 12th June.

Italy - Parliamentary Vote. In Progress. The vote will take place some time after the 29th of April.

Latvia - Parliamentary Vote. In Progress. Vote due in April

Lithuania - Parliamentary Vote. In Progress. Vote due before May 9th.

Luxembourg - Parliamentary Vote. In Progress. Vote due in June.

Malta- Parliamentary Vote. Approved : 29/01/2008

Netherlands - Parliamentary Vote. Vote due in the First chamber in the Autumn.

Poland - Parliamentary Vote. Approved : 02/04/2008

Portugal - Parliamentary Vote. Vote due on the 23rd April

Romania- Parliamentary Vote. Approved : 04/02/2008

Slovakia - Parliamentary Vote. Approved : 10/04/2008

Slovenia - Parliamentary Vote. Approved : 29/01/2008

Spain - Parliamentary Vote.

Sweden - Parliamentary Vote. Vote due in November.

United Kingdom - Parliamentary Vote. In Progress. Passed the House of Commons (11th March). House of Lords to vote in April. Date TBD for Gibraltar Parliament.

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Sources:
Europa
Wikipedia