Croatia closer to joining euro zone next year after European Parliament vote
Members of the European Parliament gave a favourable opinion on July 5 to Croatia’s bid to become the newest member of the euro zone from January 1 2023.
The European Parliament, by 539 votes in favour, 45 votes against and 48 abstentions, adopted a report by Romanian MEP Siegfried Mureșan saying Croatia fulfils all the criteria for adopting the euro at the beginning of 2023.
The report said that, in spite of the evaluation of Croatia’s readiness taking place against the backdrop of the Covid-19 pandemic, high inflation, and Russia’s war against Ukraine, Croatia continues to be ready to adopt the euro.
MEPs said that Croatia already has a higher level of price convergence with the eurozone compared to other member states on their adoption of the euro.
Nonetheless, the European Parliament expects sustained efforts from the Croatian government to ensure further price convergence and that the introduction of the euro does not lead to artificial price increases.
The European Parliament’s opinion will be forwarded to euro zone member states who are responsible for giving the final clearance for Croatia to adopt the euro.
(Photo: Miroslav Saricka/freeimages.com)
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