AA/Istanbul
The Council of the European Union (EU) on Tuesday approved Croatia’s membership of the single European currency (euro) as of January 1, 2023.
The former Yugoslav Republic thus becomes the twentieth member of the euro zone.
In a press release, the Council of the EU indicated that Croatia has adopted the last three legal acts allowing it to join the euro zone.
“Croatia’s national currency, the kuna, will be exchanged at the rate of 7.5345 kuna to 1 euro,” the EU Council statement said, adding that this is one of the measures agreed with Zagreb.
On this occasion, the Czech Finance Minister, Zbynek Stanjura, whose country holds the rotating presidency of the Council, congratulated his Croatian counterpart, Zdravko Maric, declaring that “the adoption of the euro is not a race, but a responsible political decision.
During the signing ceremony in front of the press in Brussels, Stanjura, affirmed: “Croatia has successfully fulfilled all the required economic criteria and will pay in euros from January 1, 2023”.
The euro zone is made up of 19 countries, which share a single currency, namely: Germany, Austria, Belgium, Cyprus, Spain, Estonia, Finland, France, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia and Slovenia.
*Translated from Arabic by Majdi Ismail
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