Press Release: Commission proposes Greece to become the twelfth member of the euo-zone

On 3.5.00, the European Commission adopted its convergence report 2000 in which it concludes that Greece fulfils the necessary conditions to adopt the single currency, the euro. On the basis of this report and the convergence report issued by the European Central Bank, also published on 3.5.00, the Commission is proposing to the Council to abrogate the derogation of Greece as from 1 January 2001. The final decision is expected to be taken by the Ecofin Council after consulting the European Parliament, and following a discussion by the Heads of State or Government in Santa Maria da Feira on 19-20 June 2000.