Dátum: 13.07.2015
Slovakia offers a clear example of positive immediate effects of adopting euro displayed in lower transaction costs by 0.3% of GDP annually. However, it still does not offer a clear example of positive long-term effects on investment, employment, and economic growth. This is mainly due to the unique event – Global Recession – hitting Slovakia exactly at the time of adopting euro and blurring the euro-effect. Nevertheless, Slovak experience confirms the need for flexible labour and product markets to compensate for the loss of national monetary policy. Moreover, it proves the importance of having the same currency for a group of countries with intensive trade relations.