Legal aspects of central banking in Slovenia and Croatia from their beginnings up to euro-area membership

• Main Authors: Meta Ahtik, Zrinka Erent-Sunko, Ozren Pilipović
• Format: Article
• Language: English
• Published: University of Zagreb, Faculty of Law 2012-12-01
• Series: Croatian Yearbook of European Law and Policy
• Subjects: monetary policy; state sovereignty; central bank; independence; socialist yugoslavia; slovenia; croatia
• Online Access: https://www.cyelp.com/index.php/cyelp/article/view/143

The right to regulate the monetary system represents one of the immanent features of state sovereignty. A central bank is an institution that is usually given the authority to conduct a country’s monetary policy. Slovenia entered the European Union in 2004, the Bank of Slovenia became part of the Eurosystem, and its governor a member of the Governing Council of the ECB that decides on the monetary policy of the euro area. At the moment, Croatia is about to enter the European Union. Both countries were parts of the former socialist Yugoslavia (SFRY) and so have not come a long way on their own. However, their experiences with an independent central bank cannot be neglected. Therefore, it is useful to explore how central banking was organised in the past: before SFRY, in SFRY, and after gaining independence.