For Croatia, the countdown has started.
The country received permission from Europeans to mint its own euro coins to hopefully become the twentieth euro area member country in a year from January 1, 2023. Bulgaria is expected to follow a year later.
The two future members have been in the “antechamber” of the euro since the summer of 2020.
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The Croatian kuna and the Bulgarian lev were then integrated into the exchange rate mechanism (ERM II), depriving the two countries of the possibility of devaluing their currency against the euro for at least two years.
At the end of this probationary period, in the summer of 2022, a decision should be taken, initially for Croatia.
A review that is both economic and political, which requires a green light from the Twenty-Seven.
Both Croatia and Bulgaria should have reduced their deficits accumulated during the pandemic crisis, below the threshold of 3% of GDP of the Maastricht criteria, according to the forecasts of the European Commission ...
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