Slovenia's changeover to the euro - a clear success
Photo: Uroš Hocevar
The changeover to the euro in Slovenia was swift and smooth and
although the price of some goods and services increased, overall
inflation has remained broadly stable, says the Commision's report on
the changeover in Slovenia that was issued four months after Slovenia
became the 13th member of the euro area. For the other countries
waiting to adopt the euro, the experience shows that the 'Big Bang'
approach - i.e. irrevocable locking of the exchange rate and
simultaneous introduction of the euro banknotes and coins - works and
that a two-week dual circulation period is sufficient provided that
the changeover is well and timely prepared. In some aspects,
e.g. return of cash, Slovenia even performed better than when the euro
cash was introduced in 2002, thereby minimising costs and burdens on
businesses.
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Review of the Slovenian changeover to the euro Final Report - by Deloitte Consulting [pdf, 537 Kb]
