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The euro area welcomes its 20th member, Croatia, on 1 January 2023
[La zone euro accueille son 20e membre, la Croatie, le 1er janvier 2023]

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  • Violaine Faubert
  • Florian Le Gallo

Abstract

Ten years after joining the European Union, Croatia will adopt the euro on 1 January 2023, thus becoming the 20th member of the euro area after Lithuania. The adoption of the euro, which is achieved by complying with the convergence criteria, will reduce the exchange rate risk. Lower transaction and financing costs will strengthen trade and financial integration, thereby promoting real convergence. Dix ans après avoir rejoint l’Union Européenne, la Croatie adoptera l’euro le 1er janvier 2023, devenant ainsi son 20e membre après la Lituanie. L’adoption de l’euro, permise par le respect des critères de convergence, réduira le risque de change. La baisse des coûts de transaction et de financement renforcera l’intégration commerciale et financière, favorisant ainsi la convergence réelle.

Suggested Citation

  • Violaine Faubert & Florian Le Gallo, . "The euro area welcomes its 20th member, Croatia, on 1 January 2023 [La zone euro accueille son 20e membre, la Croatie, le 1er janvier 2023]," Eco Notepad (in progress), Banque de France.
    • Handle: RePEc:bfr:econot:297
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