Slovakia joins ERM II

At the request of the Slovak authorities, euro zone ministers together with the European Central Bank, the ministers and the central bank governors of Cyprus, Denmark, Estonia, Latvia, Lithuania, Malta, Slovenia and Slovakia decided on 25 November to include the Slovak koruna in ERM II.

The central rate of the Slovak koruna was set at 1 euro = 38.4550 koruna.

The decision was taken by mutual agreement and followed a procedure involving the European Commission. Seven of the ten countries that joined the European Union in 2004 are now members of ERM II. To adopt the euro, among other criteria, an EU country must have participated in ERMII for at least two years.