Our main concern is that Slovakia, being a catching-up economy, is likely to face inflationary pressures that could derail the economy from a sustainable convergence path after euro adoption. Top priority must therefore be given to the sustainable economic convergence of the Slovak economy towards the more mature countries of the euro area.
This certainly cannot be seen as an automatic outcome of joining the euro area – indeed, it will require major efforts in the years to come from all parties concerned. We appreciate the fact that the Slovak authorities have firmly committed themselves to pursuing appropriate supportive policies – ones which aim in particular to maintain sustainable convergence, underpin external competitiveness and strengthen economic resilience.