What Are The Advantages And Disadvantages Of Croatia Adopting The Euro And Joining Schengen?

Croatia is a small country located in the southeast corner of Europe that has been making big strides toward becoming part of the larger European Union. After a long period of economic and political turmoil, Croatia finally adopted the euro as its official currency and joined the Schengen area in July 2020.

This move has been met with both enthusiasm and criticism from both inside and outside of Croatia. In this article, we will take a closer look at the pros and cons of Croatia adopting the euro and joining the Schengen area.

The primary benefit of Croatia joining the Schengen area is the increased mobility it provides to its citizens. A Schengen area is a group of 26 European countries that have abolished internal border controls, making it easier for citizens to travel freely between member states.

This has made it much easier for Croatians to travel to other parts of Europe, which has opened up new opportunities for business, leisure, and education. It has also made it simpler for Croatian citizens to obtain visas for other countries, which can be a difficult process for those from nonEU countries.

One of the biggest advantages of adopting the euro is the economic stability that it provides. The euro is the official currency of 19 of the 28 European Union member states, making it the most widely used currency in the world. As a result, Croatia will be able to access a larger market with a more stable currency than its previous currency, the kuna. This will provide increased economic stability, making it easier for Croatian businesses to trade with other countries in the EU and the world.

The adoption of the euro and joining the Schengen area also have some potential drawbacks. Firstly, it is possible that the increased mobility of people between member states could lead to an influx of people from other countries looking to take advantage of the new system. This could lead to an increase in crime, as well as an increase in the number of people living in poverty, and the cost of living in Croatia could increase as the prices of goods and services are likely to rise in order to match the euros value.

Another potential downside to Croatia joining the Schengen area is the potential for increased bureaucracy. The Schengen area is governed by a set of rules and regulations that all member states must adhere to. This could mean that certain processes, such as obtaining visas, will become slower and more complicated than they currently are. It could also mean that Croatia will have to devote more resources to enforcing Schengen rules and regulations, which could be costly.

There are also some potential benefits to Croatia joining the Schengen area. For instance, it could lead to increased tourism, as more people may be willing to visit Croatia due to the increased mobility and ease of travel between member states.

This could lead to increased economic activity in Croatia, as more people will be spending money in the country. Additionally, joining the Schengen area could also lead to increased investment from other countries, which could further stimulate the economy of Croatia.

The decision for Croatia to join the euro and Schengen area is a positive one that could bring many benefits to the country. The increased mobility and access to a larger market could lead to increased economic activity, while the stability of the euro could provide longterm economic security. However, there are also some potential drawbacks, such as an influx of people from other countries and increased bureaucracy. Ultimately, it will be up to the citizens of Croatia to decide if the benefits outweigh the risks.

Neha
I am a law student and a researcher and also a content writer. Usually write articles on the landmark judgments of Supreme Court and issues replayed with the International Human Rights. For any query mail on: [email protected]