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.
Karel Kramář
In first months of Czechoslovakia, wages in the cites fell by 60% in real terms owning to inflation and 350, 000 workers, making up 8% of the population were unemployed. Inflation was a major problem in the first months of the new republic, all the more so as Czechoslovakia continued to use the old Habsburg notes in common with other former nations of the Habsburg empire, who printed their notes in abandon, in a sense "exporting" their inflation. In February 1919, a degree ordered that only Habsburg notes stamped with the Czechoslovak lion were legal tender, and in April 1919 the Czechoslovak crown was introduced as the new currency. The February degree largely ended the inflation which was threatening to economically destabilise Czechoslovakia.