KUNA CURRENCY NOT TO BE TIED TO EURO IN SHORT PERIOD -- SKREB

ZAGREB, Feb 28 (Hina) - The Croatian National Bank (HNB) holds a comprehensive expert analysis is necessary for any changes to the currency regime in Croatia, including an examination of experiences of a number of countries, HNB governor, Marko Skreb, said on Monday. He said changes to the currency policy should not be expected, and tying the kuna currency to the Euro in a short period would not have any significant effects on the economy. A certain modernisation of the law in the HNB is necessary, which should be prepared this year, Skreb said at Monday's book presentations from three international conferences on economies in transition taking place in Dubrovnik. Books presented on Monday were published in 1996, 1997 and 1998 -- on the transformation of the financial sector, balance of payments, currency and competition in economies in transition, and central banking and monetary policy in transition. The books were published in English. Cambridge University Press published the first one and the other two Kluwer Academic Publishers. Skreb underlined an issue from the third book, about the independence of national banks. Skreb replied to a reporter's question that the Croatian National Bank "still has a relatively high degree of independence". However, he stressed, modernisation of laws at the HNB was necessary. He announced a conference in Dubrovnik on June 29 and 30 which would discuss important issues for Croatia, such as currency issues and aimed inflation. In reply to reporters' questions, Skreb said tying the kuna currency to the Euro would not achieve any significant effects on the economy. "Our problems are primarily of a structural nature ... Short-term, I do not see any reason for the currency to be tied to the Euro," Skreb said. (hina) lml mm