Strasbourg, 6 July 2022 (TDI): European Parliament has granted approval to Croatia to become a member of the Eurozone from January 2023.
From 1 April you will be able to use euros in Croatia. Today MEPs approved the country’s bid to become the newest member of the eurozone. Press release: https://t.co/rnnJMejIJV pic.twitter.com/OpLSlQTrE0
— European Parliament (@Europarl_EN) July 5, 2022
In the plenary session held yesterday, by 534 votes in favor, Parliament gave the approval. Siegfried Muresan (Member of Parliament) presented the report, stating that Croatia fulfills the criteria for adoption of the Eurozone.
The report shows that Croatia faces challenges including the COVID-19 Pandemic, the Russian war against Ukraine, and high inflation. However, it is still ready to adopt Euro and become the 20th Eurozone member.
Members of the European Parliament stated that Croatia has a high level of price convergence with the Eurozone. However, Parliament expects the Croatian government would take sustained measures to ensure an increase in price convergence.
Siegfried Muresan stated that “The reforms taken by Croatia in the past years have strengthened the economy. Hence, it paved way for Croatia to join the common currency.
Croatia’s becoming the Euro member is also good for European Union (EU) as it reflects viability in common currency”.
Margarida Marques, chair of Parliament’s euro working group, said “Croatia’s accession into common currency is an important step after Brexit. It clearly is a sign of further integration, unity, and contribution to strengthening Euro as global currency”.
European Commission President’s Statement
President of the EU commission, Ursula von der Leyen also acknowledged Parliament’s decision. She said, “Joining common currency will make the economy of Croatia stronger, bringing benefits to society, businesses, and citizens.
Furthermore, President assured that “Croatia’s adopting Euro will make Euro stronger as well.”
On June 24, European Union (EU) leaders braced the recommendation for the accession of Croatia into the Eurozone.
Before accession, the EU commission issues a recommendation. The next step is for the EU Parliament to give an opinion on it and the final step is member states’ voting.
In the upcoming week, the opinion of Parliament will be forwarded to member states of the Eurozone. They will give the final clearance on Croatia’s adoption to the zone.
