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. EU Heads of State and Government endorsed the EU Commission’s proposal in Brussels today, which envisions the introduction of the euro in the Adriatic country on January 1, 2023. EU finance ministers have done so before.
Croatian Prime Minister Andrej Plenkovic 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.
Denmark is an exceptional case
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. At the beginning of 2015, Lithuania was the last country to be accepted as the 19th member of the group of countries with a single currency.
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 Sweden, Poland and Hungary.
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