Brussels, 21/12/2006 (Agence Europe) - Slovenia, the first of the Member States from the last enlargement to adopt single currency, is finally ready for the move. “Our monitoring shows everything is evolving according to plan”, said the spokeswoman for the Commissioner for Economic and Monetary Affairs, Joaquin Almunia, on Thursday. Commercial banks and retailers have received, or are about to receive, euro banknotes and coins. Also, since last week, households have been able to procure “mini-kits” to familiarise themselves with the euro, the Commission points out in a press release. There are 450,000 such kits available. Since mid-September, banks in Slovenia have begun to receive the 296 million coins ordered from the Finnish Mint by the Slovenian government, and euro notes have been distributed since early December. From 1 January 2007, Slovenian citizens will be able to pay in euros or in tolars and receive the change in euros. This so-called dual circulation period will end on 14 January, so that, by 15 January 2007, only euro cash will have the status of legal tender in Slovenia. It will, however, still be possible to exchange tolars free of charge afterwards. Five years after the introduction of single currency in the form of notes and coins, the euro zone will be composed of thirteen Member States as of January 2007. In July this year, the EU finance ministers had decided to repeal the derogation granted provisionally to Slovenia at the time of its accession to the EU. Nothing that Slovenia met the convergence criteria defined by the Treaty of Maastricht, the Council had set the fixed and irrevocable conversion rate between the euro and the Slovenian currency at 239.640 tolars per euro (EUROPE 9230).
In its last report in November on practical preparations for joining the eurozone (EUROPE 9304), the Commission called on Ljubljana to adopt measures to enhance consumer confidence in price stability after changeover to single currency. Above all, it called for a code of conduct between retailers and consumers in order to ensure equitable pricing. No overall agreement of this kind was concluded, said the spokeswoman for Commissioner Almunia on Thursday, placing emphasis on a series of measures adopted by retailers, certifying a changeover without excessive price increases (for example, using sticky labels). The confidence of citizens and companies remains high in Slovenia. Slovenian companies are convinced that changeover to single currency will be in their own interests and in those of the consumers and an overwhelming majority state that they have received sufficient information on the euro and on the changeover process. According to a recent Eurobarometer survey, Slovenian 93% of companies state that they do not intend to put their prices up after changeover. Nearly 7% of them from the catering and hotel sector admit, on the other hand, that they are planning to adjust their prices upwards. Information is available on: http: //ec.europa.eu/economy_finance/euro/our_currency_en.htm. (ab)