Naslov
The Maastricht Criteria - Introduction of the Euro in the Republic of Croatia

Autori
Vakanjac, Danijela ; Uher, Monika ; Bedeković, Mladena

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
International Scientific Symposium ''Region, Entrepreneurship, Development'' / - Osijek, 2022, 783-800

Skup
11th International Scientific Symposium Region Entrepreneurship Development (RED 2022)

Mjesto i datum
Osijek, Hrvatska, 09.06.2022. - 11.06.2022

Vrsta sudjelovanja
Ostalo

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Maastricht criteria, convergence criteria, introduction of the euro

Sažetak
Based on statistical data, the aim of this paper is to examine and consider nominal convergence criteria (also known as Maastricht criteria) which the Republic of Croatia was obligated to fulfil by signing Treaty on European Union, and to analyse whether and to what extent these criteria have been met. Maastricht criteria are a contemporary topic of significant importance for all citizens of the Republic of Croatia. Although majority of Croatian population are not aware of the intricacies behind this process, it is very important for fiscal and monetary policy creators. The significance of this process is reflected in the fact that the decision on joining Economic and Monetary Union is changing the everyday life of Croatian citizens. The Croatian official currency ‘kuna’ will no longer be in circulation, with the euro becoming the new official currency, which brings many advantages and disadvantages. The paper defines the concept of Economic and Monetary Union with the planned phases within which the project was realized, after which the basic characteristics of the Maastricht criteria are presented. Each criterion is presented theoretically with its relation to the Republic of Croatia on the basis of statistical data which determined the meeting of the criteria. The last part presents reflections of various authors on the euro area, as well as different theses on the effects of the introduction of euro for the Republic of Croatia. This paper provides a summary of a historical overview of the origin of EMU with its criteria to be met and an insight into a current situation of criteria fulfilment by the Republic of Croatia. Also, it contributes to raising the general awareness of citizens about the issue of introduction of the euro and it enables understanding the possible effects that the current situation brings to the Croatian economy.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA