The Slovak miracle

Slovakia's planned conversion to the euro next year prompts Miklós Blahó to talk of a "Slovak miracle": "The way our northern neighbour got back on its feet in the space of just six years is commendable. ... In the aftermath of the political transition, Slovakia soon became marginalised internationally as a result of Vladimir Meciar's policies. Its accession to the European Union ... was even seriously called into question. This made an impact. Slovakia got rid of Meciar and elected a conservative government that immediately took measures to boost the economy. It raised the retirement age, set up private pension schemes and introduced doctors' fees, hospital fees and tuition fees. ... However, it also cut social welfare spending, with the consequence that the country's poorest - primarily the Roma living in ghettoes - continue to live in extreme poverty."

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