Tuesday, 12 July 2022

Website www.euro.hr With Information About Euro Adoption Launched

ZAGREB, 12 July 2022 - The Croatian government and National Bank (HNB) on Tuesday activated the www.euro.hr website with all necessary information about the euro adoption as soon as the European Union's Ecofin completed the process of decision-making on welcoming Croatia to the euro area on 1 January 2023.

The website will be updated on a regular basis.

The HNB says that the general public, businesses, media outlets, and all interested parties can access the website to get information about the determined conversion rate of the kuna for the euro, dual display of prices, motifs of the euro coins minted in Croatia, the image of the euro banknotes and deadlines for the replacement of kuna banknotes and coins with the euro, and consumer rights in the changeover process.

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Saturday, 4 June 2022

Employers to Be No Longer Required to Garnish Wages Upon Euro Adoption

ZAGREB, 4 June 2022 - The planned changeover to the euro in 2023 obliges Croatia to amend a set of laws, including the legislation regulating the enforced collection of delinquent debts, the Jutarnji List (JL) daily reported on Saturday.

Apart from changing all the laws that cite the kuna, some other laws will have to be amended, the daily newspaper says, adding that the change would further reinforce the protection of consumers against invalid contracts.

Currently, apart from the Financial Agency (FINA), the Croatian Pension Insurance Fund (HZMO) and employers are also authorized to garnish pensions and wages respectively to withhold the earnings of an individual for the payment of his or her debt in accordance with out-of-court settlements.

The employers complain about this obligation as an additional administrative burden.

Furthermore, employers are often at a loss on how to deduct money from an employee's monetary compensation so as to withhold a part of the salary subject to the enforced collection.

Therefore, the justice ministry plans to introduce a single system for the enforced collection when it comes to the wage and pension garnishment, and that only FINA should be authorized to collect delinquent debts from the income of debtors.

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