On 1 January 2007 Slovenia joined EMU (Economic and Monetary Union) as the only new EU Member State and abandoned the tolar. The preparations for a smooth euro changeover and measures to avoid unjustified price increases are in place. For people the benefits include cheaper loans, less bureaucracy, and easier travel, while reduced exchange rate uncertainty for Slovenian businesses, lower transactions costs and less interest rate volatility are the advantages for the real sector.