10th anniversary of the introduction of the euro in Slovakia

€10 silver collector coin

Slovakia adopted the euro as its currency on 1 January 2009 and so became the sixteenth member of the euro area. The euro introduction marked the culmination of the country’s integration into the European Union, which began in 2004 with EU accession and continued in 2007 when Slovakia joined the Schengen Area. These steps in the integration process brought Slovakia and its citizens many benefits, in particular free movement of people, goods, services and capital. The euro is seen as a stable currency that makes cross-border payments easier and cheaper, supports price awareness, and attracts new foreign investors. At the same time, it allows people to travel to euro area countries and several other European countries without having to exchange national currencies. The euro currency consists of seven banknote and eight coin denominations. Each banknote denomination has a uniform design, while the euro coins have one common side and one national side, with each euro area country having its own national design.