Slovenia

This information will be updated periodically. The date that this information was last updated is at the bottom of the page..

Slovenian government euro changeover site:http://www.evro.si/en/
Slovenian central bank web site:http://www.bsi.si/en/

Pricing

Banking

Public Opinion Surveys

Information Activities

Other Links and Sources

Pricing

Mandatory dual display of prices has been in place since March 2006 and will continue until June 2007. The law on dual display of prices came into force before the exchange rate between the national currency (tolars) and euro was irrevocably set. It therefore required the use of the central parity rate until the decision about the fixed exchange rate had been taken. In the event, the central parity and the irrevocably fixed exchange rate for euro entry turned out to be the same, so no change to the basis of dual display was required.

There are certain limitations and exemptions to the requirement for dual display of prices. In particular, no dual display is required for:

• postage stamps,
• postage prices (only in the main currency),
• amounts on digital displays,
• amounts on weighing machines readings,
• prices per unit of product;
• only the selling price is displayed in both currencies.

Exemptions from the requirement to dual display are made for:

• petrol stations,
• catalogues,
• butcher's shops, fishmonger's shops, delicatessens, bakeries,
• vending machines,
• books and other publications,
• games of chance,
• small companies (trade, up to 10 employees),
• certain craft companies,
• farmers selling their goods directly to consumers, and
• companies providing goods or services for concluding legal transactions.

Failure to dual display or the provision of inaccurate of dual display information can be punished by fine of up to 300,000 SIT (about EUR 1250).

The requirement for dual display is supplemented by encouragement to businesses sign up to a voluntary code of good practice. The Chamber of Commerce and Industry and Chamber of Craft Industries urged Slovenian companies to sign up to a euro price code. Companies adhering to the code pledge not to raise their prices as part of the euro changeover.

In order to understand price developments before and after euro adoption, the Statistical Office, the Ministry of Economy and the Slovenian Consumer’s Association reached an agreement on price monitoring. In line with the agreement, the Statistical Office publishes a special section in its monthly reports devoted to all goods and services that may exceed a justifiable price increase. The Office will also report on specific price developments.

The Slovenian Consumer’s Association (an independent, not-for-profit organization dealing with consumer information and lobbying on behalf of consumers) is also carrying out price monitoring, based on 460 products from postage stamps to cars. The results of the first “price watch” in September 2006 did not indicate any major cause for concern. However, on 14 December the Association highlighted some organisations that it considered had raised prices excessively in the period before the euro changeover. Further reports will be made during 2007 and a link to their website is available here.

A Financial Times report says that the European Central Bank estimates that the price adjustments resulting from the euro's adoption will increase the country's annual inflation rate temporarily by 0.1 or 0.2 percentage points. A link to this article is available here.

Banking

Public Opinion Surveys

The Central Bank of Slovenia has commissioned opinion poll research on the attitudes of the Slovenian population to the introduction of the euro. The last one was carried out in September 2006 and is available here

Key findings were:

• nearly 90% feel that they have enough information about the euro. Those who would like more information tended to be in certain socio-demographic categories such as the youngest and the oldest, those with less education and people from rural areas;

• more than half of the respondents received information about the introduction of the euro from television, which was followed by print media, various brochures, acquaintances and friends, and radio, with all the media other than TV collectively contributing less such information than TV alone. Few respondents named Internet sites as the main source of information about the euro, and the evrofon telephone hot line is all but unknown;

• more than 80% are familiar with the euro banknotes and coins, and nearly 90% have already used them; and

• consumers fear price hikes, incorrect rounding-up of prices and loss of purchasing power after the euro replaces the Slovenian tolar on 1 January 2007

The European Commission also carry out regular surveys of public opinion in the Recently Acceded Member States (RAMS) - the ten countries that joined the EU on 1 May 2004. The results of the most recent one carried in September 2006 are available here.

Key findings for Slovenia were:

• a clear majority of Slovenians think the introduction of the euro (61%) will be positive for their country and for them personally (55%) – the highest percentage of all the Recently Acceded Member States;
• the three most trusted communicators of information about the euro in Slovenia are the national central bank (92%), European institutions (82%) and consumer organisations (79%);
• the most preferred channels for information and campaigns for Slovenians are banks (92%), television (88%) and print media (84%);
• the number thinking the euro will increase inflation (63%) is greater than the number who think that euro will help price stability (24%); and
• around two thirds of Slovenians fear abuses and cheating on prices during the changeover

Information Activities

The Slovenian government and the central bank jointly produced a brochure for the general public (“The euro is coming”) in March 2006. It is available in English, Slovenian, Italian, Hungarian, Bosnian, Croatian, Serbian, Macedonian, and Albanian. A link to the English version is provided here

A communication strategy for the euro changeover was published in June 2005 and a copy is available here

Messages to the general public are currently focusing on:

• the value of euro coins (against the background of the tolar coins having little value);
• the advantages of paying cash into bank accounts – where it will be converted automatically and costlessly into euro on 1 Jan 2007; and
• the need for consumers to be vigilant about prices and to withdraw custom from suppliers they believe are using the changeover to raise prices unfairly.

Other Links and Sources

The European Commission’s fourth report on practical preparations (November 2006) is available here This focused on the state of preparations in Slovenia.

The European Commission’s convergence report of May 2006 concluding that Slovenia had meet the criteria for euro entry is available here

Information about the design and selection process for Slovenian euro coins is available here

A link to the Slovenian Euro Adoption Act is available here