Slovakia
Slovakia adopted the Euro currency on 1 January 2009 as the 16th member of the Eurozone. The euro in Slovakia was approved by the European commission on 7 May 2008. The Slovak koruna was revalued on 28 May 2008 to 30.126 for 1 euro, which was also the exchange rate for the euro.
Slovakia is an attractive country for foreign investors mainly because of its low wages, low tax rates and well educated labour force. In recent years, Slovakia has been pursuing a policy of encouraging foreign investment. FDI inflow grew more than 600% from 2000 and cumulatively reached an all-time high of $17.3 billion in 2006, or around $22,000 per capita by the end of 2008.
Euro starter kits
Slovakia joined the eurozone on 1 January 2009. As part of the euro changeover preparation, Slovakia issued 1,200,000 starter packs for the general public on 1 December 2008. Each starter kit contains €16.60 in coins; this is equivalent to SKK500.09, but the price was rounded-down to SKK500. The starter kits were available for purchase in the Slovak Post branches, local commercial banks and National Bank of Slovakia. Almost 90% of the Slovak starter kits were sold in the first five days.