ZAGREB, Dec 16 (Hina) - As of January 1, 1999 - the date of +introduction of the joint euro currency by 11 European Union +countries, it will be possible to open accounts denominated in +euro, the Croatian National Bank (HNB) reported
on Wednesday.+ All persons and companies with accounts in Croatia, denominated in +a EU member-country currency, will be able to convert them over the +next three years. On the first day of the year 2002, those assets +will be automatically converted into euro.+ During the next three years, persons and companies will be able to +choose whether to use national currencies or euro in cashless +transactions.+ After the expiry of this transitional period, ending on December +31, 2001, cash conversion, i.e. the introduction of euro bills and +coins will start.+ The national currencies of EU member-countries will cease to be +valid as legal means of payment, but their central national banks +w
ZAGREB, Dec 16 (Hina) - As of January 1, 1999 - the date of
introduction of the joint euro currency by 11 European Union
countries, it will be possible to open accounts denominated in
euro, the Croatian National Bank (HNB) reported on Wednesday.
All persons and companies with accounts in Croatia, denominated in
a EU member-country currency, will be able to convert them over the
next three years. On the first day of the year 2002, those assets
will be automatically converted into euro.
During the next three years, persons and companies will be able to
choose whether to use national currencies or euro in cashless
transactions.
After the expiry of this transitional period, ending on December
31, 2001, cash conversion, i.e. the introduction of euro bills and
coins will start.
The national currencies of EU member-countries will cease to be
valid as legal means of payment, but their central national banks
will exchange them for euro after that date as well, the HNB said.
(hina) jn rml