IRMO Brief 03/2021, "The Impact of COVID-19 on Croatia’s Euro Adoption Strategy"

Introduction

‍Is the euro a golden goose laying golden eggs? Well, certainly not, if one asks an average Greek or Italian whose countries have consistently faced lower GDP per capita levels than the level they last recorded back in 2008. On the other hand, is the euro a stinging viper? Surely not, if one poses this question to an average Slovene or Slovak whose countries boast rapid economic catch-up with the EU’s average level of economic development, especially since both of them introduced the common European currency in 2007 and 2009. Not only are their countries more prosperous, but the euro also enjoys high social support. The aforementioned and diametrically opposite experiences show that the euro is at times, and especially during economic downturns, an issue which arouses many Controversies.

‍

‍