Does east follow west to the euro?
Slovakia’s public finances are in good condition. For example, it recorded national debt of just 34.5% of GDP in 2005, compared with 107.5% for Greece and 106.4% for Italy. Inflation, though, has been persistent, compared with the rest of the front-runners for early euro adoption, says Kai Stukenbrock, credit analyst at Standard & Poor’s says. The central scenario is for Slovakia to adopt the euro in 2009, although the chances of fiscal discipline slipping have been increased with the arrival of a new government.
The starting point for the budget deficit this year was 2.8%,
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