ZAGREB, June 6 (Hina) - The Croatian Association of Banks (HUB) and the Croatian National Bank (HNB) established an euro task force on Wednesday which should prepare the conversion of 12 Western European currencies into the euro and
provide for a "smooth" transition to the European currency. All banks have already taken steps to prepare for the conversion of European Monetary Union members' currencies into the euro, HUB said in a statement. Croatia should thus weather the biggest monetary operation in history without any problems. In establishing the euro task force, emphasis has been put on the importance of informing the public about all issues of the conversion as incomplete or incorrect information may only damage the population. All deposits made in one of the 12 aforementioned currencies will on 1 January 2002 automatically be turned into the euro, while the difference between the buying and selling ra
ZAGREB, June 6 (Hina) - The Croatian Association of Banks (HUB) and
the Croatian National Bank (HNB) established an euro task force on
Wednesday which should prepare the conversion of 12 Western
European currencies into the euro and provide for a "smooth"
transition to the European currency.
All banks have already taken steps to prepare for the conversion of
European Monetary Union members' currencies into the euro, HUB said
in a statement. Croatia should thus weather the biggest monetary
operation in history without any problems.
In establishing the euro task force, emphasis has been put on the
importance of informing the public about all issues of the
conversion as incomplete or incorrect information may only damage
the population.
All deposits made in one of the 12 aforementioned currencies will on
1 January 2002 automatically be turned into the euro, while the
difference between the buying and selling rates will be paid in cash
transactions.
(hina) ha sb