© Slovak Post, 2009 Upon EU accession, the Slovak Republic undertook to gradually implement legislative and economic measures leading to Economic and Monetary Union, as well as the introduction of the common currency – the euro. After the country had met the four convergence Maastricht criteria, on 8 July 2008 the EU Council took a definitive decision about the introduction of the common euro currency in the Slovak Republic effective from 1 January 2009. Thus the Slovak Republic became the sixteenth member state of the Eurozone – a geographic area comprising countries that have adopted the euro as their common currency – and joined countries with one of the strongest currencies in the world. The former Slovak banknotes and coins were replaced by the new euro banknotes and euro coins that are recognised means of payment in all Eurozone member states. The design of the euro banknotes with nominal values of 5, 10, 20, 50, 100, 200 and 500 is identical for all Eurozone countries. The banknotes feature architectonic motifs representing typical features of diverse architectonic styles as applied in windows, gates, and bridges. The euro coins are issued in the eight different nominal values of 1, 2, 5, 10, 20 and 50 eurocents, and 1 euro and 2 Euros. Each Eurozone state mints coins with a common European motif on one side and a country-specific national motif on the other. The Slovak euro coins feature the following three motifs: the Tatra Mountains Peak of Kriváň on the 1, 2 and 5 cent euro coin, Bratislava Castle on the 10, 20 and 50 cent euro coin, and the Slovak double cross on three hills on euro coins with nominal values of 1 and 2 euros. Accession to the Eurozone is another significant milestone in the history of the independent Slovak Republic. Both professional and lay public expects not only easier travelling abroad, but also enhanced economic growth, more jobs, and higher income with subsequent standard of living improvements. Marián Kmeť