|Author (Corporate)||Council of the European Union|
|Series Title||Official Journal of the European Union|
|Series Details||L 187, Pages 31-34|
|Content Type||Legislation, Policy-making|
Decision (EU) 2022/1211 - adopted by the Council of the European Union on 12 July 2022 - concerning the adoption by Croatia of the Euro on 1 January 2023.
Article 140(1) TFEU states that at least once every two years or at the request of a Member State with a derogation, the European Commission and the European Central Bank (ECB) have to report to the Council of the European Union on the progress made by Member States with a derogation in fulfilling their obligations regarding the achievement of Economic and Monetary Union (EMU). Based on its own report and that of the ECB, the Commission should submit a proposal for a Council Decision to abrogate the derogation of the Member States fulfilling the necessary conditions.
The latest reports by the European Commission and the European Central Bank were release on 1 June 2022. In particular, the Commission's report concluded that Croatia fulfilled the conditions for the adoption of the Euro. On the basis of both reports, the Commission adopted this draft Council Decision on 2 June 2022 to abrogate the derogation of Croatia, with effect from 1 January 2023. The Decision was adopted by the Council of the European Union on 12 July 2022 and published in the Official Journal on 14 July 2022.
|Subject Categories||Economic and Financial Affairs|
|Subject Tags||Economic and Monetary Union [EMU], Monetary Affairs|
|Keywords||Euro | Single Currency
|Countries / Regions||Croatia|
|International Organisations||European Union [EU]|