Slovenia is the thirteenth EU country to adopt the euro as its currency, bringing the population of the eurozone up to nearly 317 million. Chancellor Angela Merkel praised the effort made by the Slovenian government.
"It took the Slovenian government only six months from the time they acceded to the European Union to approve and implement the plan to introduce the euro," Merkel said. "It was an enormous effort. But this effort has paid off for Slovenia and, I might add, for the European Union as a whole."
Speaking in her capacity as Council President, Merkel encouraged all EU member countries still outside the eurozone to consider the advantages of the common currency: "Do like Slovenia and you’ll see. The effort will pay double and triple dividends."
Merkel reminded her audience that the euro brings numerous benefits to the business community, eliminating unnecessary cost factors and improving competitiveness. "That encourages trade and, not unimportantly, the creation of jobs in Europe. I think it is only with the euro that one can take full advantage of the opportunities held out by the European internal market."
Merkel recalled that she experienced a change of currency twice in her lifetime, the first time in the course of German reunification and the second time during the transition to the euro. "I know that this is a momentous occasion. I am pleased to be able to share in this celebration with you here today," she said.
Monday, January 15, marked the end of a two-week transition period in which people could still pay with the Slovenian tolar. The euro is now the country’s sole legal tender.
