Capeta, Tamara. (1997) "European monetary integration: The case of Croatia". In: UNSPECIFIED, Seattle, WA. (Unpublished)
Abstract
The paper analyses the position of Croatia in the process of European monetary integration. Adjustment to the European monetary policy is seen as a precondition for inclusion in the wider process of integration in Europe. In the background of the incomplete monetary union which will be created in 1999, the paper suggests and examines possibilities of adjustment of Croatian monetary and exchange-rate policy to the ERM 2. It is concluded that Croatia can, for the moment, participate in the ERM only informally. This means unilateral peg to the Euro, and noninstitutionalized adjustments to the European monetary and economic policy, Having in mind the present state of Croatian economic and monetary situation, it is concluded that such arrangements are possible. Informal joining of the European monetary arrangements may, not only speed up the Croat's integration in the EU, but may per se be beneficial in terms of keeping stable monetary situation in the country.
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