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Lidové noviny - Czech Republic | Friday, July 10, 2009

Euro makes Bratislava an expensive place to be

The Slovak capital of Bratislava has shot up to the top of the list of the most expensive cities, ranking high above Prague, and even Berlin and Brussels. The conservative Czech daily Lidové Noviny comments: "From the point of view of the people in Bratislava who have to pay the prices, this is a road to hell. … And worse still, this week there were reports that the Slovak economy shrunk by almost 12 percent in the last quarter. That's more than in the Baltics, where there's talk of disaster and national bankruptcy. … The main reason for all this: Slovakia now has the euro, and as we now see, a euro that is far too expensive. While the devaluation of the Polish Złoty, the Hungarian forint and the Czech koruna gave the car industry on which these countries depend just as much as Slovakia does a breather, Slovakia is increasingly buckling under the weight of a high euro exchange rate."

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