VIENNA: NINTH EUROPEAN FORUM ON BUSINESS IN CENTRAL, EAST EUROPE ENDS

VIENNA, Jan 14 (Hina) - The euro and the prospects of its introduction in some countries were the main topics of a debate the leaders of central banks from Central and East European countries held in Vienna on Tuesday on the second and last day of the Ninth European Forum.#L# The event pooled about 800 participants and focused on competition and business in new Europe. The decision on when the euro will enter the exchange rate mechanisms of Central and East European countries is yet to be made but it is certain the introduction will be gradual, participants said, adding that the individual country's high fiscal deficit would pose the biggest hurdle. They also said it was impossible to expect drastic exchange rate changes in the short term following admission to the European Union. Croatian National Bank deputy governor Boris Vujcic told reporters the world financiers treated Croatia very positively, "as one of the most developed countries in Central and East Europe". Euromoney Institutional Investor P.L.C. executive director Richard Ensor agreed, saying that everything Croatia had achieved so far was very encouraging. Croatia has made enviable headway, the economy is developing and economic reforms are proceeding well, he said, adding that it was encouraging that the Ivo Sanader government had set joining the EU as soon as possible as its top priority. The international Ninth European Forum was organised by one of the world's leading financial magazines, Euromoney, in cooperation with Bank Austria Creditanstalt. (Hina) ha sb