Croatian premier u-turns on EurozoneReading Time: < 1 minutes
“The benefits of euro adoption would outweigh the disadvantages,” Croatian President Zoran Milanovic announced after meeting George Vella, his opposite number in Malta, on Wednesday. Croatia’s head of state opposed joining the Eurozone throughout his 2019 presidential campaign, local media noted.
Milanovic explained that Malta, which adopted the currency at the beginning of 2008, “has the experience – and that experience has been good”. Justifying his change of heart on Eurozone membership, he said the Croatian and Maltese economies share a reliance on the tourism and services sectors. “Our economy is unfortunately not very export-oriented: we are also a service economy,” the Croatian premier underlined.
Croatian National Bank Governor Boris Vujcic said the country will have an exact date for euro-adoption next year, and promised a major public information campaign on the EU’s 19-member system of monetary union.