Businesses Urged to Adopt Euro Changeover Ethical Code

Total Croatia News

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Image: Pixabay
Image: Pixabay

Presiding over the 16th session of the national council for adopting the euro as the official currency, Plenković said this was the first session since the final EU decision on Croatia’s accession to the euro area on 1 January 2023.

In the final stage of introducing the euro, all mechanisms should contribute to creating a secure environment for consumers, which means that businesses should accede to the ethical code, he said.

In circumstances of inflationary pressures, he added, no business should make moves that are “profiteering and speculative and that are not in line with the moment and broad social responsibility.”

“All actors in society must now show an element of social responsibility,” Plenković said, adding that everyone must “understand that we must overcome the crisis together.”

Adopting code of ethics as of 16 August

Presenting the code of ethics published last week, Filipović said it should contribute to a secure environment for consumers and to correctly converting and displaying prices, without unduly raising them.

It is intended for all financial and non-financial businesses doing direct business with consumers. Adopting the code is free and voluntary and will be possible via app from 16 August until the end of 2023. Filipović called on all businesses to adopt it.

As of 5 September, when prices must be displayed in both kuna and euro, citizens will be able to commend or complain via app about businesses that have not adopted the code, he said.

Croatia joining the world’s most developed countries

Plenković said the accession to the euro area, to coincide with accession to Schengen, meant that Croatia was joining the most developed countries in the world and the EU.

Central bank governor Boris Vujčić said 420 million euro coins would be minted this year and another 230 million in 2023.

He said 350 million euro bills were being procured and that banks, post offices and the Financial Agency would be supplied with bills and coins as of early October, while citizens and businesses would be supplied as of 1 December.

The demanding job of adjusting ATMs will begin in December, Vujčić said. Some will have kuna until the last day of the year, while some will be adjusted so that they can issue euros as of 1 January. As of 15 January, all ATMs should issue euros.

Finance Minister Marko Primorac said 60 laws would have to be aligned in fast track, starting from 25 August.

For more, check out our business section.


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