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Slovenia Business Week no. 24: EU Summit Gives Slovenia Green Light for Eurozone

EU leaders approved Slovenia's bid to join the eurozone on 1 January 2007 at their summit in Brussels

EU leaders approved Slovenia's bid to join the eurozone on 1 January 2007 at their summit in Brussels on Friday, 16 June, 16 June in what is one of the last steps in the changeover process.

The first expansion of the eurozone with one of the new EU member states is "an important and extremely positive" step forward in the economic and monetary integration of the EU, the leaders, including Slovenian PM Janez Jansa, said in their decision.

This political decision comes a day after the European Parliament gave its endorsement to Slovenia's bid to become the first new member of the 12-strong eurozone.

The European Council moreover welcomed Slovenia's meeting eurozone criteria and the European Commission's proposal that the country introduce the euro on the set date, saying its convergence is based on a solid economic and financial policy.

Source: Slovene Press Agency STA

Author: STA