Less than a decade after joining the European Union, Croats received the green light from the European Commission to join the common currency, meeting all the requirements such as inflation and stable exchange rates. More than ten years after joining the European Union (EU). The European Commission announced this Wednesday (01/06) that Zabreb has met all the criteria to join the eurozone.
“Today, Croatia has taken an important step towards adopting our common currency, the euro,” said European Commission President Ursula von der Leyen, noting that joining the single currency would “strengthen the Croatian economy and bring benefits to its citizens, companies and society”. general”, in addition to “strengthening the euro”.
The European Parliament and the bloc’s 27 member states have yet to ratify membership. The final decision is expected in the first half of July. According to the European Commission’s assessment, there should be no difficulties for approval.
Not all countries in the bloc use the euro
Although the European Union has 27 member states, only 19 use the euro as their common currency. The block’s charter requires the currency to be accepted by all eligible countries except Denmark.
However, member states must first meet a number of legal and economic conditions according to EU criteria, including low public deficit, stable exchange rates and stable inflation – these requirements are met by Croatia, which joined the bloc in 2013.
In addition to Croatia, Denmark, Bulgaria, Sweden, Romania, Hungary, Poland and the Czech Republic maintain their national currencies. The last country to adopt the euro as a common currency was Lithuania on 1 January 2015. After Croatia, Bulgaria should be a target it hopes to reach by January 2024.
Optimism and anxiety
Von der Leyen said that 20 years after the first banknotes were introduced, the euro has become one of the world’s most important currencies, improving the lives of millions of citizens across the European Union. “The euro is a symbol of Europe’s strength and unity,” he said.
Tourism, in particular, is looking forward to the transition to the euro in Croatia. With a long coastline to the Adriatic Sea, many picturesque bays and islands, the country is heavily dependent on tourism.
At the same time, many fear that the cost of living could rise significantly as a result of the transition to the common European currency.
source: Noticias
