Brussels, 03/06/2008 (Agence Europe) - Echoing the Eurogroup decision of 2 June 2008, the EU Council of Economics and Finance Ministers (ECOFIN) decided on Tuesday 3 June to give Slovakia the go-ahead to join the euro on 1 January 2009 despite talk of dangers of price instability. Meeting in Luxembourg, the EU27 finance ministers approved the European Commission's and European Central Bank (ECB)'s convergence reports on Slovakia's respect of the Maastricht Criteria (see EUROPE 9657). After the final decision by EU heads of state at the European Council of 19 and 20 June 2008, ministers will have to decide on the irrevocable exchange rate for the Slovakian crown against the euro. They will decide on the exchange rate on 8 July 2008 (see EUROPE 9671). Slovakia meets the criteria set out in the Treaty but inflation in the country and its ability to stick to the inflation criterion in the longer term have been the subject of debate at the Council. Opinion is divided but speaking after the ECOFIN meeting on 3 June, EU Economic and Monetary Affairs Commissioner Joaquin Almunia said that the ministers thought that Slovakia would be able to sustainably meet the criterion. At a press conference, Almunia urged the Slovakian authorities to monitor inflation very closely and stand prepared to take any structural, budget, economic or fiscal measure necessary to avoid distortions or erratic movements once definitive parity has been decided. (A.B.)