Russia has done everything possible to prevent NATO's eastward expansion. Some of the country’s decision has even brought discord among the EU state members. To avoid such a scenario in the future, the EU decided to revise the bids of some countries that want to become a member of the eurozone. Such a step is aimed at boosting the influence of the European Union on the world arena.
Members of the European Parliament have recently endorsed Croatia's entry into the eurozone. Thus, the country will join the euro area on 1 January 2023. "Croatia will become the 20th EU member state to join. Ecofin adopts the final required legal acts today," the EU Council Press twitted. The approval of Croatia's transition to the European single currency took place in the middle of June. After that, the heads of EU states greenlighted this decision.
Lithuania was the last country that joined the euro area on 1 January 2015. Croatia will become its 20th member from January 1, 2023. In order to become an EU member state, Croatia must meet a number of economic requirements, e.g. low inflation, financial stability, a steady exchange rate, and limited borrowing costs. It has been in ERM-II since 2019. This time, Croatia wants to swap its national currency, the kuna, for the euro.
