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The European Commission has approved Croatia's adoption of the euro

The European Commission has approved Croatia’s adoption of the euro

On Wednesday, the European Commission gave a positive opinion on Croatia’s adoption of the euro: in July, the European Parliament will have to confirm the European Commission’s decision and final approval will also have to be obtained from the European Central Bank.

If, as seems likely, there will be no problems, go ahead January 1, 2023 In Croatia, the single European currency will replace the Croatian kuna, the country’s current currency. Croatia will then become the 20th country to adopt the euro since it was first introduced in 2002. Croatia requested the adoption of the euro in 2017, and since then has begun a long period of analysis of the stability of the Croatian economy by the European Commission, which concluded on Wednesday.

European Commission President Ursula von der Leyen commented on the decision, saying that Croatia’s adoption of the euro “will boost the Croatian economy, bringing benefits to citizens, businesses and society in general in the country. In return, the single currency will also benefit from this accession. Twenty years after the first banknotes were issued Improving the living conditions of millions of citizens throughout the Union, today the euro has become one of the most powerful currencies in the world. It is a symbol of European strength and unity. Congratulations, Croatia! ».

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