On Tuesday, Croatia cleared the final hurdle to achieving its long-held ambition to become the 20th member of the single currency — a move its central bank chief Boris Vujčić said would bring “more security” and “raise living standards for our citizens”.
But while Zagreb wants in, foreign exchange markets want out.
The euro is now worth just a fraction above a single dollar for the first time since 2002, reviving memories of its difficult early years, when it fell so low traders dubbed it the “toilet currency” and major central banks launched a concerted intervention to instil faith in the project.
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