The Euro in Slovenia

"For Slovenes, the euro was an ambition that followed from EU membership. The currency, as much as the flag, was what being real Europeans was all about", comments Mary Dejevsky. "It was also fortunate ... It had the highest standard of living of any part of former Yugoslavia and made the transition to a free-market economy gradually, rather than in the 'big bang' of the Soviet collapse. ... Slovenia's smooth passage to the euro does not mean that it will be plain sailing for Ljubljana from now on. The long-term drawback of the euro is that it may restrict a country's room for manoeuvre on economic policy, even as it requires fiscal responsibility from national leaders. For the time being, however, the addition of Slovenia to the euro-zone offers a ray of light amid what seems to be gathering gloom about the euro."

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