Eurozone is about to have a new member

Eurozone is about to have a new member

Eurozone might soon be preparing to welcome another member.

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Croatian Prime Minister Andrej Plenković stated that the next step for his country would be fulfilling all of the necessary criteria and join Eurozone until the term of the current government is up, which is going to come in 2024.

Such was Plenković’s statement given today at the economic conference.

Some steps were already taken in this direction – Croatia has already expressed a wish to join ERM-2 -  European Exchange Rate Mechanism. The next logical step after this is done would be, of course, changing the national currency of the country to euro.
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Of course, Croatia is not the country with the most stable or strongest economy in the EU, which might mean trouble for EU and euro, but in general new member of the zone is going to do good to it. At least, that is the hope of the investors.

Plenković said that among other advantages of switching up to euro for Croatia will be elimination of monetary risks as well as elevation of Croatian economy’s competitive power.

The Croatians are doing everything they can to keep their economy at bay. They are trying to decrease their national debt to 60% of their national GDP in the next few years – this is one of the key conditions for joining up with Eurozone.

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