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Euro to be introduced in Slovenia as of start of 2007

BRUSSELS, May 16 (Hina) - At the start of 2007, Slovenia will become the 13th European Union member-state to introduce the euro.
BRUSSELS, May 16 (Hina) - At the start of 2007, Slovenia will become the 13th European Union member-state to introduce the euro.

"The European Commission today concluded that Slovenia has achieved a high degree of sustainable economic convergence with the other Member States and that it fulfils the necessary conditions to adopt the euro. On the basis of its Convergence Report, the Commission is proposing to the Council that Slovenia adopts the euro on 1 January 2007. The final decision will be taken by EU finance ministers in July, after consultation of the European Parliament, and following a discussion by the Heads of State or Government at their summit in June," the EC reported on its web site.

Lithuania has not been given the green light for the introduction of the euro due to the current high inflation rate.

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