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In Europe, the most commonly used currency is the euro (used by 26 countries); any country entering the European Union (EU) is expected to join the eurozone [1] when they meet the five convergence criteria. [2] Denmark is the only EU member state which has been granted an exemption from using the euro. [1]
Several European microstates outside the EU have adopted the euro as their currency. For EU sanctioning of this adoption, a monetary agreement must be concluded. Prior to the launch of the euro, agreements were reached with Monaco, San Marino, and Vatican City by EU member states (Italy in the case of San Marino and Vatican City, and France in the case of Monaco) allowing them to use the euro ...
The Slovak euro coins are the European monetary union euro coins issued by Slovakia since 2009. They 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 adopted the euro on 1 January 2009, replacing ...
About 10% of the Slovak labour force is expatriate in 2014. The country has one of the highest levels of long-term unemployment in Europe, with 7.1% of the labour force unemployed for more than a year in 2017. [23] 99.9% of Slovak firms are small and medium-sized enterprises and they account for 73.3% of all jobs in the country. [26] [27]
Euro gold and silver commemorative coins are special euro coins minted and issued by member states of the Eurozone, mainly in gold and silver, although other precious metals are also used on rare occasions. Slovakia is scheduled to introduced the euro (€) on 1 January 2009.
Slovakia adopted the Euro currency on 1 January 2009 as the 16th member of the Eurozone. The euro in Slovakia was approved by the European commission on 7 May 2008. The Slovak koruna was revalued on 28 May 2008 to 30.126 for 1 euro, which was also the exchange rate for the euro. [177] [178]
The euro is also used in countries outside the EU. Four states (Andorra, Monaco, San Marino, and Vatican City) have signed formal agreements with the EU to use the euro and issue their own coins. [29] [30] Nevertheless, they are not considered part of the eurozone by the ECB and do not have a seat in the ECB or Euro Group.
The euro is the result of the European Union's project for economic and monetary union that came fully into being on 1 January 2002 and it is now the currency used by the majority of the European Union's member states, with all but Denmark (which has an opt-out in the EU treaties) bound to adopt it.