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As the 20th EU country: Croatia's admission to the "Euro Club" is now certain

As the 20th EU country: Croatia’s admission to the “Euro Club” is now certain

Croatia has received the green light from the heads of state and government of other European Union countries to introduce the single currency, the euro. On Friday in Brussels, they supported the EU Commission’s proposal to introduce the euro in the country on the Adriatic Sea on January 1, 2023. EU finance ministers had done so before.

Prime Minister of Croatia Andrei Plenkovic He described the decision as “an excellent signal for the Croatian economy”. With membership, Croatia will be better prepared to withstand the stress of crises in the future. According to Plenkovic, 70 percent of the country’s tourists come from Euro countries.

Prime Minister Andrei Plenkovic
© APA / AFP / BELGA / NICOLAS MAETERLINC

Euro club admission

Croatia, which once had a population of about 4.1 million, has been trying for years to meet the criteria for admission to the Euro Club. To date, the Croatian national currency is the Kuna. On January 1, 2015, Lithuania was the last country to be accepted as the 19th member of the group of countries with a single currency.

obligated to join

According to the treaties of the European Union, all member states except Denmark are obligated to join the single currency as soon as they meet the requirements. However, many countries are not aggressively pursuing this – among them are, for example, Sweden, Poland and Hungary.

In Croatia, tourism in particular is looking forward to the introduction of the euro with high expectations. The country with its long Adriatic coast, many picturesque bays and islands is highly dependent on tourism. At the same time, many people fear that the cost of living will rise sharply as a result of the switch to the common European currency.

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