Will Brexit Expedite the Introduction of Euro Currency in Croatia?

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Eight EU members who do not use Euro as a currency may have to urgently introduce the joint European currency due to Brexit

Denmark, Sweden, Bulgaria, Czech Republic, Hungary, Poland, Romania and Croatia might be faced with an ultimatum set by the chief of the European Commission Jean-Claude Juncker, who aims to quickly connect other EU members with a joint currency after Brexit, in order to make the EU a monetary union, Tportal reported on June 30, 2016.

If this goal is achieved – introducing the Euro in all members, EU chiefs can seriously prepare for the next step in connecting Europe – a tax union.

The German Frankfurter Allgemeine Zeitung also writes that after the UK exit, the EU will expedite plans to complete the monetary union.

Earlier this week, Czech Foreign Minister Lubomir Zaoralek stated the chiefs of EU and their bureaucrats are a negative symbol of federalism, one the British wish to avoid at all costs.

Despite the name-calling, Juncker continues the pressure according to the plan to quickly introduce the Euro in countries still not using it.

After the British demanded an EU exit at a referendum, the European finance commissioner, British Lord Jonathan Hill resigned, replaced by Valdis Dombrovskis from Latvia.

Dombrovskis has already pointed out his goal is to introduce the Euro to member countries not using it.

As a reminder, when the current technical government PM Tihomir Orešković took office, one of his goals was to introduce the Euro

To achieve this, five criteria must be met – stable currency, low inflation, smaller credit interest, smaller public debt and smaller budget deficit.


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