Slovak euro coins

Slovak euro coins

Slovak euro coins feature three separate designs for the three series of coins. Slovakia has been a member of the European Union since May 2004, and is a member of the European Economic and Monetary Union. Slovakia has recently completed the third stage of the EMU and is currently scheduled to adopt the euro on 1 January 2009. Its current currency is the Slovak koruna.

Adopting the euro

In 2005, an official public contest for Slovak euro coin designs was held, which took place over two rounds. The deadline for the first round was 31 January 2005, after which the ten top designers chosen by the National Bank of Slovakia (NBS) were invited to make plaster reliefs of their designs. In the second round, the NBS called a public vote conducted from 12 November until 20 November 2005 on the ten designs that were picked from the over 200 submissions. [ [ The top ten designs, "National Bank of Slovakia."] ] On 21 November 2005, the results were made public; the most popular design was the Coat of arms of Slovakia. [ [ "Statement from the 57th Meeting of the Bank Board of the NBS." "National Bank of Slovakia", 20 Dec. 2005.] ] [cite news|url=|date=2005-11-22|author= Martina Jurinová|title=Public decide on motif for euro coins|work=The Slovak Spectator] On 20 December 2005, the design for the Slovak euro coins was officially made public on the NBS website. [ [ "Slovenské strany eurových mincí." "National Bank of Slovakia".] ] Since then Slovakia has been doing economic reforms to be able to adopt the euro.

After three years of reforms, on 1 April 2008, the NBS announced their plan for withdrawal, disposal and destruction of the Slovak koruna notes and coins. [cite web | url= | title=NBS Preparing to Withdraw and Destroy Koruna Notes and Coins] On 7 May 2008, the European Commission approved the application and asked member states to endorse the bid during the EU finance minister's meeting in July 2008. [cite web | url= | title=Slovakia Secures Commission Approval for Euro Entry] [cite web | url= | title = Slovakia won EU and ECB backing to adopt euro] Slovakia's 12 month inflation was 2.2% compared with 3.2% that is required. Annual inflation however was 3.6% for March 2008. Fiscal deficit was 2.2% versus the reference value of 3.0%. And finally the government debt ratio was 29.4% of GDP in 2007, well below the maximum ratio of 60.0%. [cite web | url= | title=ECB Press Release of May 7, 2008]

On 3 June 2008 European Union finance ministers gave Slovakia the green light to join the euro zone in 2009 while urging the country to be ready to fight inflation with tight fiscal policies. "We are happy to see Slovakia join the euro zone on January 1, 2009," Jean-Claude Juncker, who chairs the Eurogroup of euro zone finance ministers, told reporters.cite web | url= | title=EU ministers agree to let Slovakia into euro zone]

Slovakia's mint has been tasked to produce some 500 million euro and cent coins. As a preparation for the change on January 1, starting from November 2008, these coins will be distributed to businesses all over Slovakia. [cite web | url= | title=Banks will start delivering euro cash to their clients in November ]

On 17 June 2008, the European Parliament backed on Slovakia's bid to join the euro zone from the start of next year, urging the country to tighten fiscal policies to avoid inflationary risks. The assembly voted 589 to 17 with 86 abstentions to approve a report that said the European Union newcomer met all euro entry criteria. However, the parliament's role is consultative only. Slovakia's bid to become the euro zone's 16th member is now certain to be approved by EU leaders. EU finance ministers will then set the final conversion rate of the Slovak crown into the euro on 8 July. [cite web | url= | title=The Guardian UK - EU Parliament backs Slovakia's euro entry from 2009] [cite web | url= | title=European Parliament - Parliament backs Slovakia’s euro area membership]

On 19 June 2008, the leaders of the EU Member States confirmed Slovakia's readiness to join the eurozone on 1 January 2009. “I congratulate Slovakia for meeting all the relevant criteria,” said the current President of the European Council and Slovenian Prime Minister Janez Janša. [cite web | url= | title=Slovenian Presidency web site - EU leaders approve Slovakia’s bid to join the eurozone]

On 8 July 2008, The European Union formally invited Slovakia to join the European single currency and set the rate at which korunas will be exchanged for euros. The official rate has been set at 30.1260 korunas to the euro. [cite web | url= | publisher=BBC | title=Slovak euro exchange rate is set | accessdate=2008-07-09] [cite web | url= | title=EU grants final approval for Slovakia to adopt the euro, conversion rate set at central parity | publisher=Hungary Online Financial Journal | accessdate=2008-07-09] [cite web | url= | title=Commission welcomes Council approval of Slovakia's euro adoption | | accessdate=2008-07-09] [cite web | url= | title=Slovakia to Adopt Euro Next Year | publisher=WSJ | accessdate=2008-07-09] [cite web | url= | title=Slovakia to Adopt Euro with Conversion Rate 30.126 SKK/EUR | publisher=Slovakia Today | accessdate=2008-07-15] [cite web | url= | title=Slovakia gets final EU greenlight to adopt euro | publisher=Macau Daily Times | accessdate=2007-07-15] [cite web | url= | title=EU admits Slovakia to euro zone | publisher=Forbes | accessdate=2008-07-16]

On 5 September 2008, the NBS announced that as part of the ongoing preparations for euro adoption, Slovakia will transport from Austria over €7 billion in banknotes and have €167 million minted in coins by the end of 2008 in order to pre-stock itself with the new currency. [cite web | url= | title=Slovakia to Prestock itself with Euros | pulbisher=News Agency of the Slovak Republic | accessdate=2008-09-09]

As a preparation to the euro adoption, “start-up packages” containing the EUR equivalent of 500 Sk (16.60 €) will be sold at all post offices from 1 December 2008. The package will contain 45 Slovak euro coins with nominal values from 1 eurocent (0.30 Sk) to 2 EUR (60.25 Sk). [cite web | url= | title=Slovakia preparing to adopt the euro | publisher=eTrend | accessdate=2008-08-06]

lovak euro design

For images of the common side and a detailed description of the coins, see euro coins.

Coin image box 8 singles
header = Depiction of Slovak euro coinage | Obverse side
column_1_width = 150
column_2_width = 166
column_3_width = 157
denom_1 = € 0.01
denom_2 = € 0.02
denom_3 = € 0.05
image_1 =
image_2 =
image_3 =
row_1_caption = Kriváň, a symbolic mountain in the High Tatras as designed by Drahomír Zobek.

denom_4 = € 0.10
denom_5 = € 0.20
denom_6 = € 0.50
image_4 =
image_5 =
image_6 =
row_2_caption = Bratislava Castle as designed by Ján Černaj and Pavol Károly.

denom_7 = € 1.00
denom_8 = € 2.00
header_9 = € 2 Coin Edge
box_9 = "SLOVENSKÁ REPUBLIKA" with two stars with a linden leaf in the middle of them.
image_7 =
image_8 =
row_3_caption = The Coat of arms of Slovakia, the "Double Cross on Three Hills", as designed by Ivan Řehák.


External links

* [ Slovak euro coin details, ""]
* [ The Euro Information Website – Slovakia]
*The mint commissioned to make the Slovak euro coins [ Kremnica Mint]

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