Croatia adopts the euro and joins the Schengen area as of Sunday
Jan 01, 2023
Croatia on Sunday became the 20th European Union country to adopt the euro as its official currency and will also join the Schengen area that facilitates free movement, in a double milestone achieved after years of reforms and progress with which the country has managed to meet the requirements necessary to join both blocs.
In the case of the euro, the European currency will coexist with the local kuna for two weeks, although until the end of 2023 it will be compulsory for the prices of goods and services to also be indicated in kunas. The exchange of currencies will also be free of charge until December 31, with an exchange rate of 7.53450 kuna per euro.
With this enlargement, the eurozone now has 347 million inhabitants. The European Commission has stressed that the new currency is a «tangible symbol» of the «opportunities» offered by the EU – which Croatia joined in 2013 – and will also facilitate travel and trade.
On the other hand, the Schengen zone will be extended from this Sunday to 420 million people who will be able to travel freely and without border controls. This is the eighth enlargement of this alliance established in 1985, although it is the first in eleven years.
Maritime and land controls will be lifted with immediate effect, but not the internal surveillance at airports, since this milestone will not arrive until March 26, 2023 to coincide with the times set by the International Air Transport Association (IATA). Croatia will be subject to an examination within one year to verify that it effectively complies with all the protocols set by Schengen.
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