Jean-Claude Trichet: Inauguration of the "Euro exhibition" hosted by
National Bank Slovakia
Speech by Mr Jean-Claude Trichet, President of the European Central Bank, at the
inauguration of the "Euro exhibition", hosted by National Bank Slovakia (Národná banka
Slovenska), Bratislava, 21 September 2008.
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Ladies and Gentlemen,
It is a great pleasure for me to welcome you here today. This is a historic moment for
Slovakia, which will become the 16th country to join the euro area on 1 January 2009,
exactly ten years after the euro was set up. Slovakia is the fourth country to join the euro
area since the cash changeover in 2002: we have so far seen the entry of Slovenia in 2007,
followed by Malta and Cyprus in 2008.
When the euro banknotes and coins were first introduced on 1 January 2002, they became
one of the most visible symbols of Europe. They are now an important and natural part of our
daily lives and will soon be so for Slovak citizens.
In preparation for this historic moment, the ECB has greatly appreciated its cooperation with
the National Bank of Slovakia over the last couple of years. Governor Šramko has been a
member of the General Council of the ECB since January 2005 and from mid-July 2008 he
has also participated as an observer to the Governing Council of the ECB. The good
cooperation between the National Bank of Slovakia, the European Central Bank and the
Eurosystem will make the introduction of the euro in Slovakia a success.
188 million banknotes from Eurosystem stocks will be delivered to Slovakia by the
Oesterreichische Nationalbank in Austria, given its close proximity.
The pre-launch distribution of euro cash to banks - what we call "frontloading" - and its
subsequent sub-frontloading to retailers and other businesses is essential to make
banknotes and coins widely available within a short timeframe. In fact, the frontloading of the
euro has just begun and I understand that an additional 1.2 million coin mini-kits will be on
sale to the public from 1 December 2008.
The ECB has been providing support to the euro campaign in Slovakia by helping Slovak
citizens to become acquainted with the visual aspects of the euro and how the changeover
will work. As part of the joint euro campaign, many seminars and training sessions for bank
staff and cashiers have been held and over seven million copies of different publications
have been produced by the ECB. Over two million public information leaflets and four million
conversion cards, which show prices converted into euro as well as the most important
security features of the 20 euro banknote, will be sent to all Slovak households in December.
The National Bank of Slovakia will be able to ensure that everyone will be well prepared for
the euro changeover. I am confident that all of these efforts and activities will make the euro
introduction a success in Slovakia.
As I arrived in Bratislava I was most impressed with the façade of the National Bank of
Slovakia and its banner showing the euro banknotes and coins, which is clearly visible from
all over the city. Governor Šramko, it now gives me great pleasure to invite you to
symbolically unveil what I believe is the biggest banner ever displayed in Slovakia!
To mark this festive moment, I am also very happy to hand over the traditional euro star to
Governor Šramko to symbolise Národná banka Slovenska's joining of the Eurosystem.
I feel most honoured to open the Euro Exhibition, which houses a presentation of the euro
banknotes and coins and contains interesting information about the euro for people of all
ages. There are also many interactive games for children.
I now declare the Euro Exhibition open!
We very much look forward to welcoming Slovakia into the euro area.