Prohloubilo euro koronavirovou krizi na Slovensku v roce 2020?

The bachelor thesis assesses the impact of the European Central Bank's currency and monetary policy on the COVID-19 pandemic crisis in Slovakia in 2020. The author assesses the role of monetary policy, managed by the European Central Bank, as well as the role of the euro as a macroeconomic destabilizing element for Slovakia. The work uses a comparison with the Czech Republic. The theoretical part of the thesis characterizes the pandemic crisis and its effects, further defining negative aggregate shocks in the economy. The theoretical section also describes fiscal and monetary policy. The practical part is the first to address the issue of Slovakia and its entry into the euro area, comparing it with the Czech Republic's view of the euro area. The next section analyzes the european central bank's monetary policy steps in 2020 and compares with those of the Czech National Bank. The next part of the work shows the importance of the instruments of both monetary policies and the currency on the development of GDP and public debt in Slovakia and the Czech Republic. The main factor in times of crisis was the sweeping measures and their consequences. For this reason, it is hard to conclude whether the currency was of such importance that it was able to deepen the crisis more. But the work shows the negative relationship between centrally managed currency and monetary policy with slovakia's economic development. This was mainly due to the limited monetary policy options of the European Central Bank, which was caused by the prolonged recession of the euro area before the pandemic crisis. Based on the data found, it can be concluded that a small open economy such as Slovakia, which is largely dependent on foreign trade, can benefit more from its own autonomous monetary policy and its own currency with a floating exchange rate. The data reveals faster growth in the Czech Republic's economy after the first wave of the pandemic. From its work, it can be concluded that the Czech National Bank was able to flexibly and directly target its instruments for negative aggregate shocks in the domestic economy.