Croatia has fulfilled the action plan for joining the European Fixed Exchange Rate Mechanism (ERM II), according to Croatian Prime Minister Andrej Plenkovic. He told ministers at a governmental meeting that entry into ERM II, which is the first step towards the introduction of the euro, is expected in the second half of the year. Croatia has adopted 12 laws and numerous other rules and provisions in order to meet the criteria of an action plan adopted in conjunction with European institutions in 2018.
Plenkovic predicted that Croatia would spend two and a half years on the “waiting list” for the euro before getting the green light. Croatia’s entry into the euro area is a strategic goal of the government, which hopes the country’s old currency could be replaced in 2024 or 2025.
