Connect with us

Hi, what are you looking for?

News

Croatia joins Schengen zone, switches to euro

GENERAL VIEW of the Old City of Dubrovnik, Croatia, July 29, 2020. — REUTERS

BREGANA BORDER CROSSING, Croatia — Croatia rang in two historic changes with the new year, as the European Union’s (EU) youngest member joined both the EU’s border-free Schengen zone and the euro common currency, fulfilling longstanding ambitions of close integration with Europe.

At the Bregana border crossing with neighboring Slovenia, police took down signs at midnight and a barrier was lifted up for the last time, before a placard reading “free passage” was installed, symbolizing the end of border checks.

“If there are historical moments, special moments which should provide us with great honor and when we witness the achievement of strategic goals of a state — this is such a day,” Prime Minister Andrej Plenkovic said at a ceremony at the border later on Sunday.

He was joined by European Commission President Ursula von der Leyen, who hailed it as “a day to celebrate”.

“Today Croatia joins the Schengen Area and the eurozone, two immense achievements for the youngest member state of the European Union and both reached on the very same day. So indeed, this is a day for the history books.”

Mr. Plenkovic and Ms. Von Der Leyen later toured the capital Zagreb where they bought coffee in a cafe using euros, which replaced Croatia’s kuna currency. After a server brought their coffees to an outdoor table, Mr. Plenkovic paid with a handful of euro notes, while Ms. Von Der Leyen, seated next to him, applauded.

Croatia entered the EU in 2013. It becomes the 27th country to join the Schengen area, and the 20th to adopt the euro currency.

Finance Minister Marko Primorac touted the advantages of using the euro to lawmakers last month, saying it would strengthen the economy, improve the investment climate and make Croatia more resistant to external shocks. — Reuters

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Editor’s Pick

<?xml encoding=”utf-8″ ??> Pressure on the Tory Party chairman increases as the head of HMRC says there are no penalties for ‘innocent errors’. Nadhim...

Editor’s Pick

<?xml encoding=”utf-8″ ??> With the increased threat of industrial strike action looming across the UK, we consider whether a force majeure clause can strike...

Editor’s Pick

<?xml encoding=”utf-8″ ??> TSB’s 5,700 staff and executives are to share a 10% bigger bonus pot this year, after rising interest rates pushed the...

Editor’s Pick

<?xml encoding=”utf-8″ ??> NatWest is to shut another 23 branches in England and Wales, adding to a raft of high street banking closures already...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Shell has put more than 2,000 jobs in the UK at risk after launching a “strategic review” of its domestic energy...

Editor’s Pick

<?xml encoding=”utf-8″ ??> British taxpayers have become shareholders in a further 53 companies backed by a government rescue funding scheme. These firms include a...

You May Also Like

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.