Since the beginnings the European Union has often been a part of public discussion. Some see European Union as an equivalent to USA, but unlike the USA it is a political and economic union of 28 member states that are located primarily in Europe. The European Union (EU) is a group of majority rule European nations, committed to cooperating for peace, success and democracy. What is considered the very beginning of the EU was the Schuman declaration on 9 May 1950, when the process of development of the Union started, which still has not been completed yet. The most important institutions of the EU are the European Parliament, the European Commission, and the European Council. The European Parliament deals with the enactment of the EU laws, chooses amplifications and assesses the Commission's work program and requests that it propose enactment. The European Commission is in charge of drawing up recommendations for new European enactment and the European Council unites EU pioneers to set the EU's political plan. On the February 2nd 1992 the Treaty of Maastricht was accepted and its main objective was the establishment of the Economic and Monetary Union and on the 1 January 2002 the euro currency started with its official usage. The Eurozone is a monetary union consisting of 19 of the 28 member states of the European Union. They have all accepted the euro as their mutual currency, while the other nine countries continue to use their own currencies. Croatia became the 28th EU member country on 1 July 2013. Due to all these reasons Croatia is not a part of Eurozone. Croatia still did not meet all the conditions for the Eurozone. The main problems for not joining the Eurozone are growing public debt, severe export/import imbalance and high unemployment. The big problem is also reducing budget deficit by about 1.5 billion kuna. Budget deficit to GDP is 4,9% (the criteria for Eurozone is 3%) and the ratio between government debt and GDP is 67,1% (it must be maximum 60%). Croatia is still making effort to satisfy the public finances and ERM membership criteria.