Should Croatia ditch the kuna and adopt the Euro?

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Time Out contributors
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Statements made this week signalled that there is no place for the kuna in Croatia's future. The country now looks certain to adopt the Euro as its official currency.

Boris Vujcic, Governer of Croatia's Central Bank, said this week that the country will apply to join the European Exchange Rate Mechanism later in 2019. Any country wishing to adopt the Euro as its official currency and therefore join the Eurozone must first join the European Exchange Rate Mechanism.

It is believed that Croatia hopes to adopt the Euro by 2020. The current Croatian government look not to be interested in any public consultation on their decision to join the Euro.

Following the U.S. financial crisis in 2008, investors' fears of a sovereign debt crisis occurring in some European states impacted negatively on the economies of Eurozone members Greece, Cyprus, Ireland, Italy, Portugal, and Spain. The kuna has been the official currency of Croatia since 1994.

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