During the day today, Slovakia has won the approval of the European Commission for joining the eurozone on 1 January 2009. Thus, the central European country will become the first country in the former Soviet bloc to adopt the single currency.
Of the 27 countries that now comprise the European Union, only 15 are part of the area of common currency. When in 1992, signing the Maastricht Treaty and with it, that is the crucial step in the consolidation of the European integration process, establishing a set conditions for the adoption of a future common currency by member countries.
It was not until 1999 when 12 countries belonging to the European Union formed the so-called euro zone, abandoning the independence of its monetary systems. However, it would not be until 1 January 2002 to replace the local numerarios by flamboyant banknotes and coins.
The convergence conditions laid down in the Maastricht Treaty for the incorporation of member countries in the eurozone are basically five: control of public finances and the level of indebtedness of the state of inflation and fluctuations in exchange rate and interest rates.