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Croatia enters the Eurozone


On July 4th, 2019, Croatia notified the EU of its intention to join the ERM II mechanism (European Exchange Rate Mechanism) in its official letter. This mechanism is necessary for the introduction of a single currency-the Euro.

The European Central Bank approved Croatia's intention. In turn, the country has adopted a number of commitments relating to combating money-laundering, financing of terrorism and reducing the tax and administrative burden. When these obligations are met, the EU will make a decision on the application to join the exchange rate mechanism within 1 year.

Croatia became member of the EU in 2013. At the moment the currency of Croatia is kuna.

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