Regulation 2022/1207 - Amendment of Regulation (EC) No 974/98 as regards the introduction of the euro in Croatia

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Contents

  1. Current status
  2. Key information
  3. Key dates
  4. Legislative text
  5. Original proposal
  6. Sources and disclaimer
  7. Full version
  8. EU Monitor

1.

Current status

This regulation has been published on July 14, 2022 and entered into force on January  1, 2023.

2.

Key information

official title

Council Regulation (EU) 2022/1207 of 12 July 2022 amending Regulation (EC) No 974/98 as regards the introduction of the euro in Croatia
 
Legal instrument Regulation
Number legal act Regulation 2022/1207
Regdoc number ST(2022)9868
Original proposal COM(2022)281 EN
CELEX number i 32022R1207

3.

Key dates

Document 12-07-2022; Date of adoption
Publication in Official Journal 14-07-2022; OJ L 187 p. 16-17
Effect 01-01-2023; Entry into force See Art 2
End of validity 31-12-9999

4.

Legislative text

14.7.2022   

EN

Official Journal of the European Union

L 187/16
 

COUNCIL REGULATION (EU) 2022/1207

of 12 July 2022

amending Regulation (EC) No 974/98 as regards the introduction of the euro in Croatia

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 140(3) thereof,

Having regard to the proposal from the European Commission,

Having regard to the opinion of the European Central Bank (1),

Whereas:

 

(1)

Council Regulation (EC) No 974/98 (2) provides for the substitution of the euro for the currencies of the Member States which fulfilled the necessary conditions for the adoption of the euro at the time when the Community entered the third stage of economic and monetary union.
 

(2)

According to Article 5 of the 2012 Act of Accession, Croatia is a Member State with a derogation, as defined in Article 139(1) of the Treaty.
 

(3)

Pursuant to Council Decision (EU) 2022/1211 (3), Croatia fulfils the necessary conditions for the adoption of the euro and the derogation regarding Croatia is to be abrogated with effect from 1 January 2023.
 

(4)

The introduction of the euro in Croatia requires the extension to Croatia of the existing provisions on the introduction of the euro that are set out in Regulation (EC) No 974/98.
 

(5)

Croatia’s National Euro Changeover Plan specifies that euro banknotes and coins should become legal tender in that Member State on the day of the introduction of the euro as its currency. Consequently, the euro adoption date and the cash changeover date should be 1 January 2023. No ‘phasing-out’ period should apply.
 

(6)

Regulation (EC) No 974/98 should therefore be amended accordingly,

HAS ADOPTED THIS REGULATION:

Article 1

In the Annex to Regulation (EC) No 974/98, the following entry is inserted between the entry for France and the entry for Ireland:

 

‘Croatia

1 January 2023

1 January 2023

No’

Article 2

This Regulation shall enter into force on 1 January 2023.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 12 July 2022.

For the Council

The President

  • Z. 
    STANJURA
 
  • (1) 
    Opinion of 4 July 2022 (not yet published in the Official Journal).
  • (3) 
    Council Decision (EU) 2022/1211 of 12 July 2022 on the adoption by Croatia of the euro on 1 January 2023 (see page 31 of this Official Journal).
 

More

This text has been adopted from EUR-Lex.

5.

Original proposal

 

6.

Sources and disclaimer

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7.

Full version

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8.

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