Slovenia, which entered the eurozone in 2007, and Slovakia, which joined at the beginning of 2009 – just as the cresting financial crisis slammed shut the door to further euro enlargement – have enjoyed much greater financial stability than their untied neighbors. Part of those neighbors’ problem was that domestic borrowing costs looked so high that many small borrowers, including many house buyers, turned to low-interest Swiss-franc loans and were then hit by the franc’s massive appreciation.