EU says Croatia ready to join eurozone in 2023

Croatia is set to adopt the euro currency from the start of 2023 after meeting all the criteria to join the eurozone, the European Commission announced Wednesday.

The switch will make Croatia the 20th European country to use the single currency.

“Today, Croatia has made a significant step towards adopting the euro, our common currency,” European Commission President Ursula von der Leyen said in a statement.

The Balkan country’s planned change to from its currency, the kuna, to the euro will come less than a decade after it joined the European Union.

From kuna to euro in 2023

While states joining the EU are obliged to use the currency, they do not automatically receive permission to do so. First, they must meet a range of legal and economic conditions, including having a low government deficit and stable inflation.

The European Parliament, as well as the bloc’s 27 member states, still have to approve the commission’s assessments. A final decision could be taken as early as July.

Croatia would then plan to replace the kuna with the euro from January 1. 

nm/msh (Reuters, AFP, dpa)

Article source: https://www.dw.com/en/eu-says-croatia-ready-to-join-eurozone-in-2023/a-62001092?maca=en-rss-en-all-1573-rdf