Approval of Croatia's transition to the euro
1Approval of Croatia's transition to the euro
President of the Eurogroup and Irish Finance Minister Paschal Donohoe said that Croatia has fulfilled the necessary criteria and that the country can switch to the euro currency from 1 January 2023.
President of the Euro Group Paschal Donohoe said, "As the Euro Group, we recommended Croatia to be the 20th member of our euro family."
Donohoe made a statement at the end of the Euro Group meeting held in Luxembourg by the finance ministers of the European Union (EU) member countries that use the euro currency.
Stating that they welcome the reports prepared by the EU Commission and the European Central Bank (ECB) regarding the Croatian economy's fulfillment of the criteria for joining the euro, Donohoe said, "As the Euro Group, we recommended Croatia to be the 20th member of our euro family." said.
Pointing out that the said recommendation will be officially adopted at the Economic and Financial Affairs Council meeting to be held tomorrow, Donohoe stated that they expect Croatia to adopt the euro currency as of January 1, 2023.
Explaining that Croatia has fulfilled all the necessary criteria for the transition to the euro, Donohoe noted that the Euro Zone will become stronger with this participation.
After this stage, Croatia's transition to the euro is expected to be approved at the EU Leaders' Summit to be held in Brussels next week.
ABOUT THE EURO ZONE
Germany, France, Italy, Spain, the Netherlands, Austria, Belgium, Finland, Ireland, Luxembourg and Portugal decided to introduce the dematerialized euro in January 1999, and in 2002, euro notes and coins were introduced in the EU countries that adopted this currency. had been driven.
In the beginning, 11 countries started to use the euro, with the transition of Greece in 2001, Slovenia in 2007, Greek Cypriot Administration (GCA) and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia in 2014 and Lithuania in 2015. had a total of 19 members.
The euro, which is the second most used reserve currency in the world after the dollar, is also called the "European Currency", "ecu" and "euro".