History of the euro
Slovakia fulfilled the euro convergence criteria. At 2.2%, Slovakia's twelve-month inflation was well below the 3.2% threshold. However, for March 2008 annual inflation was 3.6%. Fiscal deficit was 2.2% versus the reference value of 3.0%. And finally, the government debt ratio was 29.4% of GDP in 2007, well below the maximum ratio of 60.0%. Public opinion supported the switch, with 58% in favour and 35% opposed, but 65% worried about the inflationary impacts of the adoption. Three months after the adoption of the currency 83 percent of Slovaks consider Slovakia's decision to adopt the euro to have been right.
Economy of Europe
Slovenia became the first formerly communist nation to adopt the EU currency, the euro, in 2007, followed by Malta and Cyprus in 2008, and Slovakia in 2009. In 2011, Estonia became the first republic from the former Soviet Union to adopt the euro, followed by Latvia in 2014, and Lithuania in 2015. Recently, Croatia became the 28th member of the European Union, which had entered on the 1st day of July 2013.