Croatia becomes twentieth country to adopt the Euro

[NewYorkExpress]

https://www.reuters.com/markets/europe/eu-formally-accepts-croatia-20th-euro-zone-member-2022-07-12/

European Union finance ministers on Tuesday formally approved Croatia becoming the 20th member of the euro common currency at the start of 2023, a move hailed as the culmination of an "amazing journey" for a Balkan nation once at war.

European Commission Vice President Valdis Dombrovskis said Croatia's accession confirmed that the euro remained an "attractive, resilient and successful global currency" and a symbol of strength and unity.


"This is particularly important at such a challenging time when Russia's aggression against Ukraine continues to send shock waves around the world," Dombrovskis told a ceremony to mark Croatia's accession, the euro zone's first expansion since 2015.

[Damocles]

Based and europilled.

[Storr]

Croatia will officially adopt the euro on January 1, 2023. The conversion rate has been fixed at €1 = 7.53450 kuna.

The next country to adopt the Euro after Croatia, will be Bulgaria. The government's set goal date for Euro adoption is January 1, 2024. Other than having "not fully compatible" legislation (which isn't hard to change if the ruling government is pro-Euro, which it is), the only Euro adoption criteria that Bulgaria doesn't meet is its Harmonized Index of Consumer Products inflation rate. Bulgaria's HICP inflation rate of 5.9%, is above the maximum reference value of 4.9%. Croatia's HICP inflation rate is 4.7%, for comparison.

[Anzeigenhauptmeister]

https://www.reuters.com/markets/europe/eu-formally-accepts-croatia-20th-euro-zone-member-2022-07-12/

Meanwhile, Croatia set to join the euro area on January 1, 2023. The Council of the EU adopted the final three legal acts that are required to enable Croatia to become the 20th member of the euro area and to benefit from using the EU’s common currency, as of next year. Croatia has successfully completed all the required economic criteria and will therefore introduce the euro as of 1 January 2023. The conversion rate between the euro and the Croatian kuna is set at 7.53450 kuna per 1 euro.

[CumbrianLefty]

But we keep being told the Euro's collapse is imminent.....

[Anzeigenhauptmeister]

But we keep being told the Euro's collapse is imminent.....

It's not imminent, it's in full swing...

Bygone are the times when Jay-Z paid his bills in €€€.

[PSOL]

Terrible decision for the Croatian economy.

[Former President tack50]

But we keep being told the Euro's collapse is imminent.....

I mean, the euro collapse was imminent at one point in 2015. It was also thankfully narrowly avoided and the euro is certainly in a much stronger position.