Wednesday, May 02, 2007

Preparations for euro introduction

Ninety-three percent of Slovak companies believe the introduction of the euro will have an impact on their work, according to a survey that aimed to find out how prepared Slovak companies are for euro adoption. The poll was carried out in March of 2007 by the Ernst & Young professional services company. This is very good news, however it is who was surveyed that was the trouble. The most advanced in their preparations were the financial sector and firms concerned with network industries and telecommunications. This was to be expected, what is a bit confusing and frustrating is though Slovak companies of various sizes participated as many as 50 percent of the companies were based in Bratislava, the capital.

Slovakia's motto is 'Little Big Country'. Yes, it is small, but from Trencin, Zilina, and Martin to the north; Banska Batrisa in the center and Kosice in the east there are many major cities with international business interests. Why did this poll not have more of a representation throughout the rest of the country? Education and prepardness are the two vital ingredients for the Slovak Republic before January 2009. These two ingredients will also go a long way in solving the apathy and silencing the cynics in the country, not to mention assist companies work out their strategic analyses. Time, one might argue is still on our side here in Slovakia. Candidates for the presidency in the U.S. hoping to move to a new residence in January 2009 would tell us otherwise.

No comments: