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Code of Ethics for the Euro Changeover

The introduction of the euro in Slovakia brought about changes that warrant preparation. For the changeover process to be successful, it was essential to create an atmosphere of trust and information sharing amongst public institutions, businesses and consumers. To this end, the Government Plenipotentiary for the Euro Introduction in the Slovak Republic and the Business Alliance of Slovakia have collaboratively prepared this Code of Ethics.

We, the signatories of this Code operating in the territory of the Slovak Republic, declare and affirm that we:

  • hold honesty, the adherence to principles, equality, transparency and solidarity in high esteem;
  • deem compliance with the laws to be a matter of course;
  • respect the rules of ethical conduct, which constitute the core principles for our day-to-day activities, whether in pursuit of business or otherwise;
  • care about maintaining good relationships with our public, customers and our society as a whole, for we realize that a sound business environment is also essential for our success;
  • believe that the successful implementation of the euro currency will contribute towards accelerating the growth and enhancing the competitiveness of the Slovak economy.

In order to facilitate the adaptation of our customers to the euro and make their orientation in the new currency system easier, we shall:

  • not abuse the process of the euro changeover by making unjustified adjustments in the prices of our products and services because our prices are driven by supply and demand;
  • work towards making sure that our vendors and customers act in the same manner and refrain from abusing the changeover process by making unjustified price adjustments;
  • introduce the system of dual display of prices as soon as possible following the publication of the fixed conversion rate by the National Bank of Slovakia;
  • recalculate the prices quoted in the national currency into the euro prices with a maximum degree of consistency and precision;
  • display – in a clear view – the official exchange rate at our shops and outlets;
  • create conditions for our customers to be able to easily compare the prices of our products and services;
  • engage ourselves in informal educational activities aimed at explaining to our customers the changes they should expect in connection with the introduction of the euro and the aspects they should pay particular attention to when shopping;
  • publish dual prices, along with the conversion rate, directly next to the products and services featured in our marketing leaflets;
  • provide our shops and outlets with sufficient supply of actual euro notes and coins in order to facilitate fast and efficient cash replacement during the dual circulation period.

We are assuming the above-listed commitments voluntarily, with the objective of supporting the integration processes of the Slovak Republic, including the ‘Every Cent Counts’ campaign.


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