The importance of the accession of the Republic of Croatia to the Eurozone

master's thesis

• Title (croatian): Značaj ulaska Republike Hrvatske u Eurozonu
• Author: Leonora Bajrami
• Mentor: Tomislav Globan (mentor)
• Committee member: Tomislav Globan (predsjednik povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Macroeconomics and Economic Development); Zagreb
• Defense date and country: 2022-09-28, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Macroeconomics

Abstract

The medium of exchange for the goods and services in the European union is called euro. Its
main purpose is that the single currency offers a number of advantages and benefits compared
to each Member State having its own currency. In addition to eliminating fluctuation risks and
the costs of exchanging currencies and strengthening the single market, Member States can
work more closely on a stable currency and economy because of the euro, which is in
everyone's interest. The single currency in a such big market as European union brings many
advantages that comes from any form of financial and economic integration, and as a result
the mentioned above, it gives the opportunity of competitive advantage in a currency market
as its market share becomes bigger. Before introducing the new common currency additional
costs were incurred due to the need to exchange currencies, and cross-border transactions
were risky and non-transparent. With the euro currency, doing business in the euro area is
more economical and less risky. The possibility of simple and obvious price comparison
motivates international trade and investment of various forms, in addition to all, investing
consumers looking for the best product, companies that buy services at the most reasonable
price and attracting the foreign direct investments that are less risky, and cost less due the
exchange rate cost cut. The European union, and euro area is one big market where common
currency is main connecting dot for doing businesses. The Republic of Croatia is on the right
way for implementing the euro. The year when it will officially happen will be 2023. Then the
Republic of Croatia will be the full member of the eurozone area.

• Keywords: Euro; Eurozone; currency; benefits; disadvantages
• Language: english
• URN:NBN: urn:nbn:hr:148:468761
• Study programme: Title: Economics; Study programme type: university; Study level: graduate; Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Created on: 2022-09-28 11:26:14