“According to a convergence report covering seven EU member states obliged to adopt the Euro, which was published on Wednesday by the European Commission, Croatia meets all but one of the criteria for joining the Eurozone, participating in the European Exchange Rate Mechanism (ERM II) for at least two years.

The report covering Bulgaria, the Czech Republic, Croatia, Hungary, Poland, Romania and Sweden provides an overview of these countries’ progress towards entry into the Eurozone. Croatia, together with Bulgaria, meet all of the criteria except the one requiring participation in ERM II for at least two years. The ERM II serves as a kind of waiting room for entry into the Eurozone.

All seven countries meet the public finance criterion, which means that they all have a deficit below three percent of GDP, and public debt below 60 percent of GDP or, if it is higher than this percentage point, it must be on a downhill trajectory.” (Voice of Croatia)