January 1, 2007: Slovenia Joins the Euro Area

Today, the Republic of Slovenia adopts the euro, the EU's single currency, which is now shared by 316.6 million people in 13 European Union countries, including two million Slovenians. Slovenia joined the Union in 2004 along with nine other countries and is the first among those nations to join the euro area.

"The adoption of the euro is a historic event for Slovenia. I am confident that the changeover will be a smooth operation and I am sure that it will be just as exciting a moment for Slovenians as it was for the citizens in the 12 European Union countries that first adopted the euro," said European Commission President José Manuel Barroso.

"Slovenia is adopting a currency that is strong and stable and, in doing so, is becoming a full member of the EU. The adoption of the euro creates the right conditions for economic prosperity by providing low inflation and low interest rates. But it also requires a continued commitment to sound public finances and reforms so that Slovenia fully reaps the benefits of monetary union," added Economic and Monetary Affairs Commissioner Joaquín Almunia.

MORE (12/28 News Release)

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