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S&P sees Slovakia adopting euro in 2009

Slovakia is likely to adopt the euro in 2009 as planned but it must make sure its consolidation effort is sustained after the euro zone entry, Standard and Poor's credit analyst Kai Stukenbrock told Reuters on Monday.

Stukenbrock told the Reuters Central European Investment Summit that initial concerns the leftist government of Prime Minister Robert Fico would dismantle economic reforms from the previous centre-right administration had not materialized. "Currently we do not see that they will deviate from that," he told Reuters, referring to the 2009 euro adoption goal.

“Basically, our bottom line is that we expect them to get into the euro zone in 2009...They will make the numbers." Stukenbrock said the government appeared determined to get the fiscal deficit below the euro entry target of 3 percent of gross domestic product, as well as qualify on interest rate, inflation, debt and currency criteria. (The full text of the story)