Slovak News Back to the news
Purchases in Shops May Be Rounded Off to Nearest 5 Cents
Tuesday 09 February 2010 Zoom in | Print page
Bratislava, February 9 (TASR) - A proposal for an amendment to the Prices Act drawn up by Slovak National Party (SNS) MP Jozef Duracka that provides for the rounding-off of total purchases to the nearest 5 euro cents was passed to its second reading in Parliament on Tuesday.
The amendment is designed to limit the use of coins with the lowest nominal values (1 and 2 euro cents). Slovakia isn't allowed to withdraw such coins from circulation on its own initiative, as only the European central bank (ECB) is entitled to do this. Although 1 and 2 cent coins would remain legal tender, people wouldn't need them in everyday life and their circulation would be restricted to a minimum.
Slovakia already has experience with rounding-off measures when the old 10 and 20 heller coins were withdrawn from circulation following the introduction of an amendment in 2003.
All rights reserved. Any publishing or further dissemination of press releases and photographs from TASR's resources without TASR's prior written approval constitutes a violation of the Copyrights Act.
