Saturday, January 28, 2012

Croatia Joining the European Union

Croatia 10, 20, and 50
lipa coins
On January 22, 2012, citizens of Croatia voted to approve their country joining the European Union (Croatia first applied to the EU in 2003). If the membership is ratified by the other 27 EU members, then Croatia will become the 28th European nation to join the Union on July 1, 2012. The last countries to be admitted to the union were Bulgaria and Romania in 2007.

Croatia's currency today is called the kuna. 1 kuna = 100 lipa. Membership in the European Union usually leads to membership in the Eurozone (the subset of EU countries which also exclusively use the euro as their currency) a few years later, although there are some exceptions (Great Britain and Denmark have special exemptions, for example).

This means that by joining the European Union, Croatia will eventually switch their money (and, more importantly for readers of this blog, their coins) from the kuna to the euro. The last countries  to convert to the euro were Estonia in 2011, and Slovakia in 2009.

Of the current 27 European Union countries, only 17 exclusively use the euro. The other 10 are either exempt or are taking the steps necessary in order to eventually switch. With a stable currency, the switch to the euro can take as little as 2 years. But according to news articles, the current situation with Greece (which is a member of the Eurozone) may cause the Zone to be more cautious about allowing new members and may delay Croatia's switch to the euro until 2017.

So even though you may be hearing about Croatia joining the EU, don't expect to see any new Croatian euro coins for quite some time. The next most likely countries to adopt the euro, based on their progress through the conversion prerequisites, appear to be Lithuania and Latvia.

26 comments:

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  2. Do you need Financial Assistance? We can help you?
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  3. Do you need Financial Assistance? We can help you?
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    Replies
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  8. DK FINANCIAL SERVICE is a Global Financial Services Firm Committed to helping our customers improve their long-term financial success.

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  9. DK FINANCIAL SERVICE is a Global Financial Services Firm Committed to helping our customers improve their long-term financial success.

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    WE OFFER ALL KIND OF LOANS - APPLY FOR AFFORDABLE LOANS.

    * Investor Loans -
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    * Personal Loans -
    * Debt Consolidation -

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    We give out loan with an Interest rate of 1.00%
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    Kindly write us back with the loan information;
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  14. Dear valued customer,

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  16. Dear valued customer,

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  19. WE OFFER ALL KIND OF LOANS - APPLY FOR AFFORDABLE LOANS.

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    Kindly write us back with the loan information;
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  21. Do you need Financial Assistance?
    Do you seek funds to pay off credits and debts?
    We give out loan with an Interest rate of 1.00%

    Please, contact us for more information: pergocf@fastservice.com

    Kindly write us back with the loan information;
    - Complete Name:
    - Loan amount needed...$, €, £:
    - Loan Duration:
    - Purpose of loan:
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    ReplyDelete
  22. Do you need Financial Assistance?
    Do you seek funds to pay off credits and debts?
    We give out loan with an Interest rate of 1.00%

    Please, contact us for more information: pergocf@fastservice.com

    Kindly write us back with the loan information;
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    - Loan amount needed...$, €, £:
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    ReplyDelete
  23. $$$ GENUINE LOAN WITH LOW INTEREST RATE APPLY $$$
    Do you need finance to start up your own business or expand your business, Do you need funds to pay off your debt? We give out loan to interested individuals and company's who are seeking loan with good faith. Are you seriously in need of an urgent loan contact us.

    Email: shadiraaliuloancompany1@gmail.com

    ReplyDelete
  24. Dear valued customer,

    Do you need Financial Assistance?
    Do you seek funds to pay off credits and debts?
    We give out loan with an Interest rate of 1.00%

    Please, contact us for more information: pergocf@fastservice.com

    Kindly write us back with the loan information;
    - Complete Name:
    - Loan amount needed...$, €, £:
    - Loan Duration:
    - Purpose of loan:
    - City / Country:
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    Yours Sincerely,
    Mrs. Ceren Kelly
    pergocf@fastservice.com

    We look forward to hear from you ASAP.

    ReplyDelete
  25. Dear valued customer,

    Do you need Financial Assistance?
    Do you seek funds to pay off credits and debts?
    We give out loan with an Interest rate of 1.00%

    Please, contact us for more information: pergocf@fastservice.com

    Kindly write us back with the loan information;
    - Complete Name:
    - Loan amount needed...$, €, £:
    - Loan Duration:
    - Purpose of loan:
    - City / Country:
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    ReplyDelete