Croatia to get green light for introducing euro in July

Source: Jutarnji list

Thursday, 11.06.2020.

10:19

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Illustration (Photo: Pixabay.com/Hans)

According to the Fitch rating agency, Croatia is expected to formally request to enter the banking line and ERM II, the waiting room for entering the eurozone, where it needs to spend at least two and a half years, in the third trimester, during the summer months.

As for Croatia, it has completed the task it took upon itself: the government announced a month ago that it had fulfilled the action plan of 19 reform measures, and these days HNB also announced that five banks had successfully passed the test of the control of their property’s quality, carried out by the European Central Bank.

Judging by the statements of Croatian officials, the government will soon notify the European institutions about the execution of all the measures, and ECB should introduce the members of eurozone to the results of the assessment of the quality of the property of five Croatian banks.

Their positive answer is expected by mid-July.

If Croatia does make the first step, the new question that opens is how long it will stay within this mechanism and when the euro is truly to enter everyday use.

Tags:

Government of Croatia

Fitch

HNB

European Central Bank

ECB

ERM II

process of introduction of euro

range of fluctuations

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