Croatia enters the Eurozone

On July 4^th, 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.

On materials of the following website: https://www.consilium.europa.eu/en/press/press-releases/2019/07/08/statement-on-croatia-s-path-towards-erm-ii-participation/