2 Euro (Slovak Republic accession to OECD) – Slovakia
Circulating commemorative coins
Commemoration: 20th anniversary of the accession of the Slovak Republic to the Organisation for Economic Co-operation and Development (OECD)
Slovakia
Obverse
Description:
The national side design features a digital humanism concept: a brain-shaped printed circuit with a central microprocessor circle. The Slovak coat of arms is near the lower right edge. Partially overlapping the main image is a square outline containing '20. VÝROČIE' and 'VSTUP SR DO OECD'. Below this are 'SLOVENSKO' and '2020'. To the left are the Kremnica Mint mark ('MK' between dies) and the designer's initials 'PV'. The outer ring bears the 12 stars of the European flag.
Inscription:
20
VÝROČIE
VSTUP SR DO
OECD
SLOVENSKO
2020
PV
VÝROČIE
VSTUP SR DO
OECD
SLOVENSKO
2020
PV
Translation:
20th Anniversary
of the Slovak Republic's Entry into
OECD
SLOVAKIA
2020
PV
of the Slovak Republic's Entry into
OECD
SLOVAKIA
2020
PV
Script: Latin
Language: Slovak
Designer: Peter Valach
Reverse
Edge
Categories
| Map |
| Symbols> Coat of Arms |
| Symbol> Cross |
Mints
| Name | Mark |
|---|---|
| Kremnica | (MK) |
Mintings
| Year | Mint Mark | Mintage | Quality | Collection |
|---|---|---|---|---|
| 2020 | MK | 1,000,000 | ||
| 2020 | MK | 5,000 | BU |
Historical background
In 2020, Slovakia was a well-established member of the Eurozone, having adopted the euro as its official currency on January 1, 2009. Therefore, the country did not have an independent national currency policy; its monetary policy was set by the European Central Bank (ECB) in Frankfurt. The primary currency-related discussions within Slovakia that year were not about exchange rates or devaluation, but focused on broader Eurozone fiscal and monetary responses to the economic crisis triggered by the COVID-19 pandemic. Slovak authorities, like their Eurozone partners, were concerned with ensuring sufficient liquidity and supportive measures from the ECB.
The economic shock of the pandemic dominated the financial landscape. Slovakia's GDP contracted significantly, leading to increased public spending to support businesses and households. A key currency-adjacent issue was Slovakia's participation in the EU's recovery fund (NextGenerationEU) and the debate over common European debt issuance, which some Slovak political figures viewed cautiously. Domestically, there were no serious political movements to leave the euro, as the currency was generally seen as providing stability during the global turmoil, shielding the small, open economy from the speculative pressures it might have faced with its former currency, the koruna.
However, the year was not without currency-related events. In 2020, Slovakia began issuing a new series of euro banknotes (the "Europa series") into circulation, a process of modernizing security features that was ongoing across the Eurozone. Furthermore, as a member of the ECB Governing Council, the Governor of the National Bank of Slovakia, Peter Kažimír, was involved in critical decisions, including the launch of the €1.35 trillion Pandemic Emergency Purchase Programme (PEPP) to stabilize the euro area economy. Thus, Slovakia's currency situation in 2020 was characterized by its integrated role in the collective Eurozone effort to mitigate a severe economic downturn.
The economic shock of the pandemic dominated the financial landscape. Slovakia's GDP contracted significantly, leading to increased public spending to support businesses and households. A key currency-adjacent issue was Slovakia's participation in the EU's recovery fund (NextGenerationEU) and the debate over common European debt issuance, which some Slovak political figures viewed cautiously. Domestically, there were no serious political movements to leave the euro, as the currency was generally seen as providing stability during the global turmoil, shielding the small, open economy from the speculative pressures it might have faced with its former currency, the koruna.
However, the year was not without currency-related events. In 2020, Slovakia began issuing a new series of euro banknotes (the "Europa series") into circulation, a process of modernizing security features that was ongoing across the Eurozone. Furthermore, as a member of the ECB Governing Council, the Governor of the National Bank of Slovakia, Peter Kažimír, was involved in critical decisions, including the launch of the €1.35 trillion Pandemic Emergency Purchase Programme (PEPP) to stabilize the euro area economy. Thus, Slovakia's currency situation in 2020 was characterized by its integrated role in the collective Eurozone effort to mitigate a severe economic downturn.
Series: Slovakia 2 euro commemoratives
🌱 Very Common