Subsequently, in three enlargement rounds, four additional Member States have adopted the euro and on 1 January 2009 Slovakia will become the 16th member of the euro area. This shows that the euro area is not a closed shop. The euro is now the currency for 320 million European citizens.
In this regard, I would like to note that one of the most important reforms for stimulating capital market development in this country is the genuine liberalization of the pensions sector, so that all pension providers licensed by the Uganda Retirement Benefit Authority can compete on a level playing field to manage both mandatory and voluntary pension contributions.