Show on Euro Notes and Coins Opens in Ljubljana
Slovenian preparations for the euro changeover are well underway, whereby Slovenia has the advantage of being able to learn from the experiences of the eurozone member countries, a member of the executive board of the European Central Bank (ECB) has said.
Lorenzo Bini Smaghi addressed together with Bank of Slovenia Governor Mitja Gaspari the opening of an exhibition on euro banknotes and coins at the Slovenian National Museum in Ljubljana on Monday, which is organised by the European Commission and the ECB.
The exhibition features the procedure for selecting a symbol of the single European currency and a motif for the euro coins, with the national versions of all twelve eurozone member countries presented.
The visitors will also be able to look at photographs on "the greatest logistics operation in peacetime", as Bini Smaghi labelled the euro changeover of 1 January 2002, before which European printers and mints had to make 15 billion euro banknotes (which would cover 15,000 football fields) and 52 billion coins.
Gaspari said that the exhibition will contribute to the people's knowledge about the euro, although most Slovenians are familiar with the new currency and expect positive effects after Slovenia adopts the currency on 1 January 2007 as the first EU newcomer.
He added that the euro adoption cannot be prevented even by a higher inflation rate, as prices will stabilise soon. In May, the inflation rate in Slovenia stood at 3.2%, with Gaspari explaining that this sudden increase is only temporary.
He moreover said he expects the euro-tolar exchange rate to remain the same even after the July session of EU finance ministers in Brussels.
Director of the Directorate General for Economic and Financial Affairs at the European Commission Servaas Deroose welcomed the fact that Slovenians accept euro as a positive thing. However, he stressed that the trust of the consumers has to be won first.
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