|Author (Corporate)||Council of the European Union, Eurogroup|
|Series Title||Official Journal of the European Union|
|Series Details||C 238, Pages 1-2|
|Content Type||Blog & Commentary, News, Policy-making|
Recommendation adopted by the members of the Council of the European Union whose currency is the Euro on 17 June 2022, concerning the adoption by Croatia of the Euro on 1 January 2023.
This recommendation proposes that Croatia should introduce the Euro currency on 1 January 2023. This is the first step in a process by which the Council of the European Union adopts legal act that enable the country to become a member of the Euro area.
Croatia's Kuna joined the Exchange Rate Mechanism (ERM II) in July 2020. It is necessary to be part of this mechanism without severe tensions and without devaluing its central rate against the Euro for at least two years before it can qualify to adopt the Euro. On 1 June 2022, the European Commission assessed that Croatia fulfilled all the criteria for joining the Eurozone and proposed to the Council that Croatia adopt the common currency in January 2023. The European Central Bank also published an assessment on the same day.
The Recommendation was adopted by the Eurogroup on 16 June 2022 and endorsed by the Council of the European Union on 17 June.
|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]|