Ecofin, the Council of the Economy and Finance Ministers of the 27 EU member states, gives the final go-ahead to Slovakia’s entering the euro-zone on 1st January 2009. It was announced by Christine Lagarde, France’s Minister of Economy, the current chairman of Ecofin. The EU Parliament had given its favourable vote on 17th June, while the heads of state and government had approved Bratislava’s accession to the euro-zone during the summit of 19-20 June. The single currency will now be used in 16 countries (Austria, Belgium, Germany, Greece, Spain, Finland, France, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Slovenia, Malta and Cyprus). The agenda of the Council included the implementation of the Stability and Growth Pact, the stability schemes of Belgium and Poland, and the excessive deficit procedures of Poland and the United Kingdom. But current news forced them to deal with oil prices and the turbulence on the financial markets. Other issues included: the role of taxation in the protection of the environment, the fight against tax frauds, governance in the euro-zone.
