Economics

Dubrovnik Has Game of Thrones Fame But All It Wants Is the Euro

Dependent on tourism, Croatia is embracing all things euro and aims to take the next step toward membership.

DUBROVNIK, CROATIA - OCTOBER 21: (EDITORS NOTE: Image has been digitally enhanced.) The cable (Zicara Dubrovnik) car operates over the old town at Utvrda Imperijal (Fort Imperial) on October 21, 2018 in Dubrovnik, Croatia. Dubrovnik is one of the oldest towns at the Adriatic Sea, and it is a popular destination of tourists and cruisers.. (Photo by Laszlo Szirtesi/Getty Images)Photographer: Laszlo Szirtesi/Getty Images Europe

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By Andrea Dudik and Jasmina Kuzmanovic

June 25, 2019 at 4:00 AM UTC

This article is for subscribers only.

Tucked inside the medieval city walls in the Croatian port of Dubrovnik, Mara Pezo’s leather bag store is perfectly placed for the thousands of tourists disembarking from cruise ships every day. Now all she needs is their euros.

The European Union’s newest member aims to transition to what’s called ERM-2 – effectively a waiting room for membership of the common currency – as soon as next year. For businesses like Pezo’s, efforts by the government and central bank to prepare can’t come quick enough.