Casa backs Slovakia for euro

Nationalist MEP David Casa has proposed that the European Parliament (EP) agree to Slovakia's bid to join the eurozone as from January.

Presenting his final report on Bratislava's application to adopt the single currency in his capacity as the EP's rapporteur on the issue, Mr Casa told the Economic and Monetary Affairs Committee of the EP that the country deserves to adopt the euro as it had made the necessary economic transition.

Mr Casa's favourable report follows the positive recommendation already made by the Commission and the European Central Bank earlier on this month.

The MEP highlighted Slovakia's economic achievements over the last few years.

"Slovakia managed to reduce the rate of inflation by almost five percentage points and that is quite an achievement. On the other hand the rate of employment rose by almost six per cent and this confirms the integration of the Slovak economy with that of the EU," he told MEPs.

During the debate that followed, many MEPs representing different political groups spoke in favour of Slovakia's adoption of the euro and thanked Mr Casa for his "balanced and fair report".

The EP is now scheduled to vote on Mr Casa's report in its plenary session next month. The final decision will be taken by the EU's Finance Ministers in July.