It's Big in Europe

Congratulations are in order to the tiny European nation of Slovenia. Slovenia will become the first country to join the eurozone since the inception of the Euro in January 2002. It is expected that in January 2007 Slovenia will abandon its tolar for the European currency that has quickly become one if the dominate currencies in the world market. Slovenia was able to meet the strict economic requirements that all (sort of) countries must meet before they can join the eurozone. The acceptance of Slovenia has left some Europeans perplexed why Lithuania was denied entrance into the eurozone. Slovenia had slightly lower inflation rates than Lithuania, whose rates for last year were just hundredths of a percentage point away from the 2.6% the EU mandates. Officials of the EU state that while Lithuania could have been granted membership, they felt that its inflation was headed even higher in the future, and didn't want to set a precedent of bending the rules for other potential candidates. Aside from the inflation rate, Lithuania is actually much better off economically than Slovenia. President Valdas Adamkus is disappointed with their rejection, feeling that the implementation of the Euro would be the spark that Lithuania needed.

"Introducing the euro would have strengthened the country's attractiveness for investment, and eased trade relations and the movement of our citizens in eurozone countries"

Ramble On continues to support these former soviet states in their quest to integrated into mainstream Europe. We hope more of the other EU member nations will soon be able to adopt the Euro and compete economically with the rest of the world.......... For more information on the Euro click here.