Election year in Croatia will not stand in the way of the euro

ERM2 mechanism by the summer of 2020

Croatian central bank’s Vice Governor Michael Faulend spoke about the euro adoption process yesterday. He is convinced that Croatia will be able to meet all commitments from the ERM2 letter of intent by April or May 2020 and, in the best-case scenario, enter this mechanism in the summer of 2020. Although it is impossible to say with 100% certainty when Croatia would adopt the euro, the Vice Governor said that, in case of no impediments, this would happen in 2023 or 2024 at the earliest. He also said that the election year might only slow things down a little, but that it cannot stop the trend that has lasted for the past 2-3 years.

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