NICOSIA, May 11 (Reuters) - Discussions on Croatia joining the exchange rate mechanism that would prepare it for adopting the euro should only start once the country leaves the European Union’s Excessive Deficit Procedure, central bank governor Boris Vujcic said on Thursday.
“It’s first things first. Before exiting EDP it’s not the time to start discussions on joining ERM-2,” Vujcic told Reuters on the sidelines of the European Bank for Reconstruction and Development’s annual meeting in Cyprus.
“(We‘re) looking forward to another good budget, and the debt-to-GDP ratio will open the space for the start of talks on joining ERM-2” he said. (Reporting by George Georgiopoulos; Editing by Hugh Lawson)