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Croatia adopted the euro as its currency on 1 January 2023, becoming the 20th member state of the eurozone.A fixed conversion rate was set at €1 = kn 7.5345 [1]. Croatia's previous currency, the kuna (Croatian for marten), used the euro (and prior to that one of the euro's major predecessors, the German mark or Deutsche Mark) as its main reference since its creation in 1994, and a long-held ...
The history of currency in the now Croatian territory dates to much earlier than the adoption of the modern kuna in 1994, [1] and almost a thousand years of history which has seen the rise and fall of many different empires and kingdoms. [2] Croats did not begin to create their own coins for currency until late in the 12th century (1100–1200).
Croatia completed its plans to adopt the Euro Currency as soon as possible after the July 1, 2013 EU accession. The country commenced participation in the ERM II on 10 July, 2020 and on 12 July, 2022 the Council of EU adopted a currency decision allowing Croatia to join the eurozone from the 1 January, 2023.
Several European microstates outside the EU have adopted the euro as their currency. For EU sanctioning of this adoption, a monetary agreement must be concluded. Prior to the launch of the euro, agreements were reached with Monaco, San Marino, and Vatican City by EU member states (Italy in the case of San Marino and Vatican City, and France in the case of Monaco) allowing them to use the euro ...
The enlargement of the eurozone is an ongoing process within the European Union (EU).All member states of the European Union, except Denmark which negotiated an opt-out from the provisions, are obliged to adopt the euro as their sole currency once they meet the criteria, which include: complying with the debt and deficit criteria outlined by the Stability and Growth Pact, keeping inflation and ...
Croatia and Bulgaria took a big step toward joining the shared euro currency Friday, underlining the currency bloc's attraction despite its 2010-2015 debt crisis and the continuing debate about ...
These states are not considered part of the eurozone by the ECB. However, sometimes the term eurozone is applied to all territories that have adopted the euro as their sole currency. [31] [32] [33] Further unilateral adoption of the euro (euroisation), by both non-euro EU and non-EU members, is opposed by the ECB and EU. [34]
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