Gasparovic signs act on Slovakian euro


Slovak President Ivan Gasparovic ratified the law paving the way for introducing the common European currency in the country.

The act concerns regulations relating to dual circulation and pricing, rules for rounding off prices in changeover calculations, and rules for exchanging cash in korunas after the Slovak currency is no longer valid.

The newly-signed law doesn't relate to meeting the Maastricht criteria set as conditions for euro adoption. Nor does it mention Slovakia's macro-economic or currency situation vis-a-vis its preparations for joining the eurozone.

The law also amends further regulations, principally the law on the Slovak central bank (NBS), whereby powers relating to currency and the issue of banknotes and coins will be transferred from NBS to the European Central Bank (ECB).

The first provisions of the law should come into effect as of January 1, while others will be valid when the changeover rate is determined, which is due to be take place in the summer of 2008. The remaining provisions are set to enter into force as of the planned date of the introduction of the euro, i.e. January 1, 2009. (Sktoday)


CIG Pannónia Board Proposes HUF 18-per-share Dividend Figures

CIG Pannónia Board Proposes HUF 18-per-share Dividend

Hungarian Lawmakers Ratify Finland's NATO Accession Parliament

Hungarian Lawmakers Ratify Finland's NATO Accession

IBS Reaches 50-50% Gender Ratio in Management HR

IBS Reaches 50-50% Gender Ratio in Management

Sümeg Castle Reopens History

Sümeg Castle Reopens


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.