ZAGREB, January 7, 2019 – The Croatian National Bank Governor Boris Vujčić said on Monday that Croatia was ready to take steps to enter the European Exchange Rate Mechanism (ERM), a system for the preparation of the introduction of the euro, stressing that European partners supported Croatia’s efforts to introduce euro, owing to its quality indicators and the resilience of the banking sector.
Vujčić attended a conference called “Five Years with the Euro”, organised in Riga by the European Commission to mark the introduction of the euro in Latvia.
He underscored that it was much harder to introduce the euro today than it was when Latvia did, as it was much harder to enter the European Union today than it was in the past.
Commenting on meeting the criteria for entering the euro area, Vujčić said the most difficult thing was to enter the ERM II, because there are no clear criteria that a country needs to meet to enter that mechanism.
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