COSTS AND BENEFITS OF THE ACCESSION OF THE REPUBLIC OF CROATIA TO THE MONETARY UNION

U ovom radu obradit će se tema pod nazivom „Troškovi i koristi pristupanja Republike Hrvatske monetarnoj uniji“. Analizira se Europska ekonomska i monetarna unija kao i kirteriji konvergencije. Na primjeru Slovenije i Grĉke se moţe vidjeti kako se nakon pristupanja Europskoj monetarnoj uniji prednosti i nedostatci razliĉito manifestiraju, ovisno o situaciji u zemlji. Postavlja se pitanje kako će navedene prednosti i nedostatci djelovati na hrvatsko gospodarstvo i hoće li u konaĉnici koristi od pristupanja bit i veće od troškova. UvoĊenje eura uklonilo bi valutne rizike unutar gospodarstva, odnosno uspješno bi smanjilo troškove zaduživanja te smanjilo rizike izbijanja bankovne krize. Došlo bi i do niţih transakcijski troškova te poticanje međunarodne razmjene i ulaganja. Također stjeĉe se mogućnost sudjelovanja pri raspodjeli monetarnog prihoda te pristupanje mehanizmima financijske pomoći. Od nedostataka potrebno je istaknuti jednokratne troškove koverzije, prijenos sredstava Europskoj središnjoj banci, sudjelovanje u pruţanju pomoći drugim drţavama ĉlanicama i rizik povećanja cijena zbog konverzije. Tu su i trajni nedostatci gubitka monetarne politike i rizik prekomjernog priljeva kapitala i akumulacije makroekonomskih neravnoteža.This paper will address the topic entitled: “ Costs and benefits of the accession of the Republic of Croatia to the monetary union”. The European Economic and Monetary Union as well as the convergence criteria are analyzed. The example of Slovenia and Greece shows that after joining the European Monetary Union, the advantages and disadvantages manifest themselves differently, depending on the situation in the country. The question is how these advantages and disadvantages will affect the Croatian economy and whether the benefits of accession will ultimately outweigh the costs. The introduction of the euro would eliminate currency risks within the economy, and successfully to reduce borrowing costs and reduced the risk of the outbreak of the banking crisis. There would also be lower transaction costs and encouragement of international trade and investment. It also provides the opportunity to participate in the distribution of monetary income and access financial assistance mechanisms. Disadvantages include one-off conversion costs, the transfer of funds to the European Central Bank, participation in assistance to other Member States and the risk of price increases due to conversion. There are also disadvantages permanent loss of monetary policy and the risk of excessive capital inflows and the accumulation of macroeconomic imbalances