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Croatia switches to euro, enters borderless Europe club

Croatia switches to euro, enters borderless Europe club

13 Sept 23:21 Key points summarised by AI
  • Croatia officially adopted the euro and joined the passport-free Schengen zone on Sunday, marking two significant integration milestones nearly a decade after joining the EU.
  • The move makes Croatia the 20th member of the eurozone and the 27th nation in the Schengen area, allowing free movement for over 400 million people.
  • Experts anticipate the euro adoption will stabilize Croatia's economy, shielding it from global inflation and lowering borrowing costs, despite some public concerns about potential price increases.
  • Entry into the Schengen zone is expected to significantly boost Croatia's crucial tourism industry by eliminating border checks with EU neighbors, enhancing travel convenience.
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