Croatia in EMU on 2023

[ART]

Even the latest member of the EU is starting to get busy. At the end of last year, the document "Strategy for the adoption of the euro in Croatia" [*] was presented jointly by the government and the central bank, explaining in detail what Croatia should do to achieve accession to the european monetary union and the guidelines to be followed also during and after the event. Given that some criteria are not yet met, no entry dates are estimated: for now, of course, there is only the first stage will be membership of the ERM-II, with the intention of implementing it by 2020.

It should be noted that in Croatia the euro is already used today: just think that 80% of credits and savings are expressed in euros, as well as many prices.



[*] https://euro.hnb.hr/documents/2070751/2 ... 63f9af3c95

[Akai]

Croatia has entered the Exchange Rate Mechanism (ERM II), a key step towards the introduction of the euro, and the Croatian National Bank (HNB) has established close cooperation with the European Central Bank, the ECB and the European Commission.

Source: https://www.croatiaweek.com/croatia-ent ... sm-erm-ii/

[ART]

On 11 November, the Croatian National Bank presented the National Plan to replace the Croatian kuna with the euro [*]. The plan states that the transition period with the double circulation of the old kuna cash with that in euro will be 2 weeks, then there will be 6 months to change the cash for free at the post office, or in private banks but pay for. After 12 months the private banks will not change anymore and only the Croatian National Bank will do it for free.

For some time now, the Croatian National Bank has also opened a special information section for the euro on its website: https://euro.hnb.hr

[*] https://euro.hnb.hr/documents/2070751/2 ... 5269883861

[garfieldHR]

After a public poll which took place between July 1 and July 15, the motifs for Croatian euro coins have been announced.

€2 coin will feature the map of Croatia.
€1 coin will feature marten (kuna in Croatian language), the animal after which the current Croatian currency is named.
50c, 20c and 10c coins will feature Nikola Tesla.
5c, 2c and 1c coins will feature Glagolitic alphabet.
All coins will feature Croatian checkerboard as a background.

Despite COVID-19 and its impact on economy, the plans are still to introduce the euro as currency in Croatia on January 1, 2023.

[ART]

At the beginning of August the tender notice for the graphics will be announced, in mid-October the sketches will be presented as per standard procedure to the European Commission and the Council of the European Union for approval.

[Akai]

Croatian euro coins design:

[Montgomery Burns]

Lovely use of the famous chequered pattern.

[ART]

A nice presentation video: https://youtu.be/dy2VVslPDTQ

But the € 1 will have changed, because they found that the image was copied from a photo.

[thejay]

Croatia has been approved.

https://www.ecb.europa.eu/press/pr/date ... 1d.en.html

[MDeen]

Now also the EU countries have approved
https://www.deutschlandfunk.de/eu-partn ... n-100.html

I guess we know where the EBT meeting in 2023 will be.

[Montgomery Burns]

The Eco-Fin council met yesterday and adopted the final legal dispositions required for entry - it is now officially oficial!

[lmviterbo]

https://www.ecb.europa.eu/press/pr/date ... e3.en.html

1 € = 7.5345 kuna

My prediction (best scenario): items costing now 15 kuna will be marked 2 €. Instant inflation over 6% just because of that.

Worst scenario (still credible): items costing now 10 kuna will be marked 2 €. Instant inflation over 50%. I'm pretty sure this will happen for cheaper articles.

[Montgomery Burns]

Yeah, that instant inflation on top of the current inflationary pressures. It's unfortunate...

[ART]

[Montgomery Burns]

Very nice.