June 2008 | European Parliament backs Slovakia’s euro area membership

The European Parliament have approved Slovakia's bid to adopt the euro on 1 January 2009. At the same time, they stressed that Slovakia should make further efforts to keep its rate of inflation down and continue structural reforms to its economy. Parliament agrees with the Commission that Slovakia has met the criteria to join the euro.

The European Council is expected to take a political decision on Slovakia's euro membership at its 19-20 June summit, with the formal legislation being put to the vote at the following meeting of EU finance ministers. Parliament's role in decisions on euro area enlargement is consultative.