Recently, there has been a broad discussion regarding the timing of joining the Euro zone. The mainstream opinion is that the sooner the Czech Republic joins, the better. However, as this thesis indicates, especially the econometric model, the Czech Republic is not ready for doing so. Hence, an early accession may not be beneficial.

The subject of thesis the Comparison of economic development of Slovakia and Estonia before and after the entry into euro zone, is a comprehensive analysis of the economic development of Estonia and Slovakia throughout the course of the integration process in the euro zone from 2004 to 2011. The first chapter reviews the theoretical bases of the work and discussed the theoretical bases of the processes of nominal and real convergence. In the introductory part is defined the concept of nominal convergence in the context of monetary integration and introduce each of the Maastricht criteria and its own set of macroeconomic indicators, on the bases of which ought to the development of Estonia and Slovakia in the analytical part of the work. The second part of the work is focused on the evaluation of the development of nominal and real convergence of the Estonia and Slovak economy to the states of the euro area and with each other on the basis of the development of selected indicators. The third part of the work deals with the final summary and comparison economic development ongoing nominal and real convergence in Estonia and Slovakia and assessment of the decision the timing of entry Estonia and Slovakia into the euro area.

Darbe apžvelgiama bendrų pinigų Europoje svarba bei pateikiama ECB funkcijų EPS analizė. Apžvelgiamas ECB ir LB bendradarbiavimas. Remiantis ECB pranešimais apie konvergenciją pateikiama Lietuvos bei Slovėnijos makroekonominių rodiklių palyginamoji analizė bei remiantis Lietuvos finansų ministerijos ir EK parengtais makroekonominių rodiklių prognozių analizė. Išryškinamos pagrindinės ekonomikos problemos. / The importance of common currency in Europe is surveyed and analysis of ECB functions is the EMU is made. The paper also contains an analysis of ECB and LB's cooperation. According to the data given in Convergence Reports a comparable analysis of Lihuania and Slovenia's macroeconomic indexes is performed. According to the data prepared by the Ministry of Finance of Lithuania and the European Commission an analysis of the macroeconomic indexes forecasts is made. Main economic problems in Lithuania are highlighted.

This master’s thesis analyzes whether at all and at what level the Czech republic and Sweden meet the Maastricht criteria, because this is a necessary condition for adopting the single currency euro. The theoretical part of this thesis will be focused at theoretical basis, which means the European Union and its history, monetary union and individual convergence criteria. Analysis of actual situation of meeting the Maastricht criteria and evaluation the harmonization of national economic in the Czech republic and in Sweden will be realized in analytical part of this thesis.