The Eurogroup today endorsed the recommendation of euro area member states to the Council.

The ministers agreed with the positive assessment of the European Commission and the European Central Bank that Croatia has met the convergence criteria. The recommendation proposes that Croatia adopt the euro on 1 January 2023. This is the first step in the process by which the EU Council adopts legal acts that will allow Croatia to become a member of the eurozone and use our common currency, the euro, from next year.

The recommendation is to be made by the Ecofin Council (by a qualified majority of euro area Member States) at its meeting on 17 June 2022. The Council is also expected to confirm the letter from the President of the Ecofin Council to the European Council. The European Council will discuss the issue at its meeting on 23 and 24 June.

The procedure will end when the Council (after consulting the European Parliament and the European Central Bank) adopts the three legal acts needed to enable Croatia to adopt the euro on 1 January 2023. The adoption of these acts is expected in July.