Germany takes on EU Presidency whilst Slovenia takes on the EURO.

The first day of the New Year is a double celebratory date as is marks the half-century of the EU since the Treaty of Rome. Fifty years ago, on 25 March 1957 France, West Germany, Italy, Belgium, the Netherlands and Luxembourg founded the European Economic Community, the main forebear of the EU. Monday, January 1st 2007 was also the start date for Germany’s presidency of the G8 whose summit will be held this year in Heliendamm and also as leader of the Council of the European Union which rotates between its now 27 members. Germany takes over from Finland and will pass on the role to Portugal on 1st July 2007 and then Slovenia who will take over on 1st January 2008 and together share the trio presidency for 2007/2008 period.

Slovenia marks the start of the 2007 by becoming the thirteenth country to join the euro and the single currency’s first expansion following its introduction in January 2002 which brings the Eurozone population to more than 316 million. The country’s changeover operation looks set to be smooth however Slovenians are urged to beware of price rises. Today 1 € or Euro is worth 239,640 SIT or Slovenian Tolar.

During its six month presidency Germany aims to make headway reviving the planned EU constitution which it believes will be a framework for Europe in the future to tackle the challenges of globalization and international trade. With a new leader Angela Merkel and an economy on the up, Germany’s prospects for 2007 look favourable.