Slovak Experience After 10 Years from the Introduction of the Euro as Globalization Factor

Abstract

One of Slovakia’s globalization tendencies is the successful introduction of the Eurocurrency. It has been 10 years since the introduction of the euro in Slovakia. It is a sufficient time for us to continuously assess the real situation and attitudes of the citizens in this area. There are several publicly available studies, research findings conducted by Eurobarometer, Fincenter or the National bank, which focus on advantages and disadvantages of the euro currency. The most frequently mentioned advantages are price stability, transaction cost decrease in foreign trade and tourism, Slovak export increase and the removal of exchange rate risk. On the other side, Slovakia has lost its independent monetary policy and the member country is also expected to participate in the euro area rescue mechanism. Similarly the research team of the Faculty of Economics of J. Selye University was invited by Hungarian Pallas Athene Domus Educationis Foundation to participate in the research project named ten years of euro – Slovak experience. Based on this project initiative, the aim of the paper is to find out the experience regarding the euro among citizens, also with an emphasis on cross-border activity. In order to achieve the research objectives we applied primary data collection to obtain information about the researched issue. An anonymous questionnaire survey was conducted among the respondents. Data collection among the residents was realized with a help of an agent, but also an online questionnaire was provided for the respondents in 2018. Statistic indicators were used to verify our assumptions.