Governor Boris Vujčić and Vicegovernor Michael Faulend
CNB Governor Boris Vujčić held a presentation on the accession of the Republic of Croatia to the euro area in Sofia today at the invitation of the European Union, Schengen Area and Euro Area Affairs Committee of the Parliament of the Republic of Bulgaria. The decision of the European Central Bank of 13 July 2020 established close cooperation with the Bulgarian National Bank and the Croatian National Bank and provided for Croatia and Bulgaria joining the Single Resolution Mechanism. This marked the entry of the two countries into the banking union as well as into the exchange rate mechanism II (ERM II). In 2023, Croatia entered the euro area, and on this occasion the CNB Governor spoke to members of the Bulgarian Parliament about Croatia’s experience, preparations for and the implementation of all processes necessary for the introduction of the euro.