| Author (Corporate) | European Commission: DG Economic and Financial Affairs |
|---|---|
| Publisher | Publications Office of the European Union |
| Series Title | European Economy: Institutional Papers |
| Series Details | Number 294 |
| Publication Date | July 2024 |
| ISBN | 978-92-68-16965-0 |
| ISSN | 2443-8014 |
| EC | KC-BC-24-021-EN-N |
| Content Type | Report |
Summary:Report published by the European Commission on 26 June 2024, comprising an assessment of Member States with a derogation regarding their fulfilment of the conditions for Euro adoption. It concludes that none of the non-euro countries covered by the report meets all of the criteria for joining the Euro area. Further information:The European Commission's Convergence Report provides an assessment of the progress non-Eurozone Member States have made towards adopting the euro. Six non-euro countries are legally committed to adopting the Euro: Bulgaria, Czechia, Hungary, Poland, Romania and Sweden. The report is based on the convergence criteria - also known as the Maastricht criteria - set out in Article 140(1) TFEU. The criteria include price stability, sound public finances, exchange rate stability and convergence in long-term interest rates. This year's report concludes that Member States covered in the report display mixed results in terms of nominal convergence. None of these Member States currently meets all of the criteria for joining the euro area. Bulgaria is the only country that fulfils all but one criterion and where national legislation can be considered to be compatible with the rules of the Economic and Monetary Union (EMU). The Convergence Report of the European Commission is separate to, but published in parallel with, the Convergence Report of the European Central Bank (ECB). |
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| Source Link |
https://doi.org/10.2765/77665
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| Subject Categories | Economic and Financial Affairs |
| Subject Tags | Economic and Monetary Union [EMU] |
| Keywords | Euro | Single Currency |
| Countries / Regions | Bulgaria, Czechia, Hungary, Poland, Romania, Sweden |
| International Organisations | European Union [EU] |
