Slovakia clears crucial hurdle for eurozone
Brussels - Slovakia met a key inflation target required to join the eurozone, clearing the first hurdle in its push to adopt the joint currency next year, European Union data showed Wednesday.
Slovakia's inflation rate averaged 2.2 per cent in the 12 months through March 31, the EU statistics agency Eurostat said - well below the euro target of a 3.2-per-cent annual average.
The European Commission - the EU's executive - and the European Central Bank are expected to rule in early May whether Slovakia is ready to become the eurozone's
14th nation.
Slovakia, a Central European economic powerhouse with a booming auto industry, plans to switch to the euro on January 1. (dpa)