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BREAKING NEWS

Croatia set to launch bid for euro adoption waiting room

Croatia set to launch bid for euro adoption waiting room
Croatia's Minister of Finance Zdravko Maric is seen at the government building in Zagreb, Croatia May 4, 2017. REUTERS/Antonio Bronic -
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Antonio Bronic(Reuters)
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ZAGREB (Reuters) – Croatia will formally launch a bid to join the European Exchange Mechanism (ERM-2), a waiting room for membership of the euro currency, by the end of this week, its finance minister said on Wednesday.

Zdravko Maric said the government would authorise him and the central bank governor on Thursday “to sign and send a letter of intent”.

Croatia hopes to be allowed to join ERM-2 next year. If the European Central Bank and the euro zone members then give the green light, it could adopt the euro in 2023 at the earliest.

(Reporting by Igor Ilic; Editing by Catherine Evans)

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