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EUCO Gives Final Approval For Eurozone Accession

CROATIA

The ECOFIN group of EU finance ministers has adopted the three legal acts required to allow Croatia to join the eurozone and begin the process of replacing its kuna currency with the euro from 1 January 2023.

  • Link to EUCO statement: https://www.consilium.europa.eu/en/press/press-rel...
  • One of the three acts required sets the exchange rate at 7.53450 kuna per 1 euro. As stated in the act, this corresponds to the current central rate of the kuna in the exchange rate mechanism (ERM II).
  • Croatia will be the 20th country to join the eurozone, and will sit as the currency union's 15th-largest economy.

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