Saturday, 11 July 2020
Coming soon as official currency Coming soon as official currency Pixabay

Introduction of the Euro as official currency of Croatia seems unstoppable

By  May 24, 2019

Croatia’s seemingly inevitable move towards adopting the Euro and ditching the Kuna got more momentum on Wednesday as the majority of candidates in the upcoming European elections backed the change. In a panel discussion on the introduction of the Euro held with European political candidates the majority gave their full support for the European currency.

Tomislav Sokol from the Croatian Democratic Union (HDZ) stated that analyses conducted so far showed that euro introduction would have a positive impact on the Croatian economy. Whilst Predrag Matic from SDP believed the public should be asked on their opinion “We are not against euro introduction but believe that the timing should be right and that citizens should be given the opportunity to state their position in a referendum.”

However, it seems that a referendum is not on the cards as the Prime Minister, Andrej Plenkovic, has stated on many occasions that the referendum has already been held when the public voted unanimously the join the European Union back in 2012.

And he added back in March this year that the members of the euro area are the most important trade partners of Croatia, and that as much as 77 percent of Croatian citizens' savings is in euros and 54 percent of all loans. He also pointed out that 70 percent of the total tourism revenues came in Euros, 60 percent of total overnight stays come from European citizens, as well as 66 percent of foreign tourists spending. Finally, 75 per cent of Croatia's foreign debt is also in Euros. "That means we are de facto there," he concluded Plenkovic.


The Voice of Dubrovnik


Find us on Facebook