Convergence Report 2012 (May 2012)

The European Central Bank (ECB) published in May 2012 its Convergence Report 2012, which assessed the progress made by eight Member States of the European Union (EU) in fulfilling their obligations regarding the achievement of Economic and Monetary Union (EMU).

The report deals with Bulgaria, the Czech Republic, Latvia, Lithuania, Hungary, Poland, Romania and Sweden. It examines whether a high degree of sustainable convergence has been achieved in these countries (economic convergence) and gauges compliance with the statutory requirements to be fulfilled by national central banks to become an integral part of the Eurosystem (legal convergence). When assessing the sustainability of convergence, the report also takes due account of both the new enhanced economic governance framework of the EU and the strength of the institutional environment in each country, including in the area of statistics.

One of the related urls below will take you to the parallel 2012 Convergence Report of the European Commission issued on the 30 May 2012.

• Primary Source

BBC News, 30.5.12: Eurozone: ECB says no countries ready to join http://www.bbc.co.uk/news/business-18268062

https://ec.europa.eu/info/business-economy-euro/economic-and-fiscal-policy-coordination/eu-economic-governance-monitoring-prevention-correction/stability-and-growth-pact/stability-and-convergence-programmes_en https://ec.europa.eu/info/business-economy-euro/economic-and-fiscal-policy-coordination/eu-economic-governance-monitoring-prevention-correction/stability-and-growth-pact/stability-and-convergence-programmes_en

European Central Bank: Publications: Convergence Reports http://www.ecb.int/pub/convergence/html/index.en.html

ECB: Press Release, 30.5.12: ECB Publishes its Convergence Report 2012 http://www.ecb.int/press/pr/date/2012/html/pr120530.en.html

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