Carlos da Silva Costa: Two decades with the euro - Portugal's perspective

Lecture by Mr Carlos da Silva Costa, Governor of the Bank of Portugal, at the Croation Central Bank, Zagreb, 20 September 2019.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
25 September 2019

1. Introductory remarks

Good morning.

I would like to thank Governor Boris Vujčić for his kind invitation to visit the Croatian National Bank and for the opportunity to share the Portuguese experience with the euro with you and the steps that led to its adoption in 1999.

First of all I would like to express my satisfaction with Croatia's intention to join ERM II and the Banking Union by mid-2020, as well as to congratulate the Croatian authorities on the remarkable progress the country has made since it became part of the European Union.

As one of the eleven founding members of the euro area, Portugal's preparation for the introduction of the single currency took place in a very different context from the one in which Croatia will adopt the euro.