The European Union summit on Friday approved the introduction of a single European currency in Croatia. The country will become the twentieth member of the euro zone from January next year. The use of the euro in Croatia will be formally confirmed by finance ministers in July at a first meeting chaired by the Czech EU Presidency.
At the beginning of June, the European Commission declared that Zagreb met the four criteria that Brussels evaluates to assess its readiness to adopt the single currency, namely the state of public finances, interest rates, price stability and the rate change.
“The euro is the monetary expression of our common destiny and is part of our European dream. Now this dream has become a reality for Croatia,” said Charles Michel, President of the European Council, after the meeting.
Since September, the Balkan country has been preparing to start displaying prices in current kuna and euros. Both currencies should be valid all next year before only the European currency is left.