The E-Sylum:  Volume 10, Number 18, May 6, 2007, Article 40

SLOVAKIA MULLS EURO BANKNOTES; FEELS POORER

"Aiming to change its national currency to the euro in 2009,
Slovakia has revived old ideas on issuing €1 and €2 banknotes,
but the European Central Bank says the idea won't fly.

"'We are trying to open up debate,' Slovak prime minister Robert
Fico said in an April meeting with the European Central Bank president
Jean-Claude Trichet, underlining the move was driven by public dismay.

"'The banknote – unlike the coin ‐ is a subjective symbol of value,'
Mr Fico argued. He was referring to the fact that in his country a €1
coin may replace two banknotes of 20 and 50 Slovak koruna, which
could eventually lead to the feeling of having less money.

"In fellow new EU state Slovenia, adoption of the euro has already
made people feel poorer, after the country bid farewell to its national
currency in January 2007. The €1 coin has a value of 254 Slovenian
tolars, something that has prompted a citizens' petition."

To read the complete article, see:
http://euobserver.com/9/23983

  Wayne Homren, Editor

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