Post by rubl on Jul 6, 2019 11:51:28 GMT 7
"Croatia launches euro bid
Zagreb seeks to begin two-year preparation and put its banks under ECB oversight in 2020.
Croatia has officially applied to join the euro.
Zagreb’s finance ministry and central bank sent a letter of application — obtained by POLITICO — on Thursday to the European Commission’s euro chief, Valdis Dombrovskis, and Mario Draghi, European Central Bank president.
Croatia said it expects to enter a two-year scrutiny period called the EU’s Exchange Rate Mechanism, or ERM II, by the summer of next year."
www.politico.eu/article/croatia-launches-euro-bid/
For some more info (not all up-to-date) and a few pointers
"Croatia's currency, the kuna, has used the euro (and prior to that one of the euro's major predecessors, the German mark or Deutschmark) as its main reference since its creation in 1994, and a long-held policy of the Croatian National Bank has been to keep the kuna's exchange rate with the euro within a relatively stable range.
Croatia's EU membership obliges it to eventually join the eurozone, as such the country plans to join the European Monetary System, the pathway to euro adoption.[2][3] Prior to Croatian entry to the EU on 1 July 2013, Boris Vujčić, governor of the Croatian National Bank, stated that he would like the kuna to be replaced by the euro as soon as possible after accession.[4] This must be at least two years after Croatia joins the ERM2 (in addition to it meeting other criteria). The Croatian National Bank had anticipated euro adoption within two or three years of EU entry.[3][5] However, the EU's response to the ongoing financial crises in eurozone states may delay Croatia's adoption of the euro.[6] The country's own contracting economy also poses a major challenge to it meeting the convergence criteria.[7] While keen on euro adoption, one month before Croatia's EU entry governor Vujčić admitted "...we have no date [to join the single currency] in mind at the moment".[4] Before Croatia can join ERM II, it must reduce its budget deficit by about 1.5 billion kuna (June 2013 figures). The European Central Bank was expecting Croatia to be approved for ERM II membership in 2016 at the earliest, with euro adoption in 2019.[8][9]
"
en.wikipedia.org/wiki/Croatia_and_the_euro
Zagreb seeks to begin two-year preparation and put its banks under ECB oversight in 2020.
Croatia has officially applied to join the euro.
Zagreb’s finance ministry and central bank sent a letter of application — obtained by POLITICO — on Thursday to the European Commission’s euro chief, Valdis Dombrovskis, and Mario Draghi, European Central Bank president.
Croatia said it expects to enter a two-year scrutiny period called the EU’s Exchange Rate Mechanism, or ERM II, by the summer of next year."
www.politico.eu/article/croatia-launches-euro-bid/
For some more info (not all up-to-date) and a few pointers
"Croatia's currency, the kuna, has used the euro (and prior to that one of the euro's major predecessors, the German mark or Deutschmark) as its main reference since its creation in 1994, and a long-held policy of the Croatian National Bank has been to keep the kuna's exchange rate with the euro within a relatively stable range.
Croatia's EU membership obliges it to eventually join the eurozone, as such the country plans to join the European Monetary System, the pathway to euro adoption.[2][3] Prior to Croatian entry to the EU on 1 July 2013, Boris Vujčić, governor of the Croatian National Bank, stated that he would like the kuna to be replaced by the euro as soon as possible after accession.[4] This must be at least two years after Croatia joins the ERM2 (in addition to it meeting other criteria). The Croatian National Bank had anticipated euro adoption within two or three years of EU entry.[3][5] However, the EU's response to the ongoing financial crises in eurozone states may delay Croatia's adoption of the euro.[6] The country's own contracting economy also poses a major challenge to it meeting the convergence criteria.[7] While keen on euro adoption, one month before Croatia's EU entry governor Vujčić admitted "...we have no date [to join the single currency] in mind at the moment".[4] Before Croatia can join ERM II, it must reduce its budget deficit by about 1.5 billion kuna (June 2013 figures). The European Central Bank was expecting Croatia to be approved for ERM II membership in 2016 at the earliest, with euro adoption in 2019.[8][9]
"
en.wikipedia.org/wiki/Croatia_and_the_euro
