This is an article about European Politics, Convergence criteria is also a mathematical term regarding series In mathematics, a series is often represented as the sum of a sequence of terms. ...

Convergence criteria, also known as the Maastricht criteria, are the criteria for European Union member states to enter the third stage of European Economic and Monetary Union (EMU) and adopt the euro. The four main criteria are based on Article 121(1) of the European Community Treaty. Those member countries who are to adopt the euro need to meet certain criteria which include: In economics, a monetary union is a situation where several countries have agreed to share a single currency among them. ... To meet Wikipedias quality standards, this article may require cleanup. ... The Treaty of Rome signing ceremony Signatures in the Treaty The Treaty of Rome refers to the treaty which established the European Economic Community (EEC) and was signed by France, West Germany, Italy, Belgium, the Netherlands and Luxembourg on March 25, 1957. ...

1. Inflation rate: No more than 1.5 percentage points higher than the 3 best-performing member states of the EU (based on inflation).

2. Government finance:

Annual government deficit:

The ratio of the annual government deficit to gross domestic product (GDP) must not exceed 3% at the end of the preceding fiscal year. If not, it is at least required to reach a level close to 3%. Only exceptional and temporary excesses would be granted for exceptional cases.

Government debt:

The ratio of gross government debt to GDP must not exceed 60% at the end of the preceding fiscal year. Even if the target cannot be achieved due to the specific conditions, the ratio must have sufficiently diminished and must be approaching the reference value at a satisfactory pace.

3. Exchange rate: Applicant countries should have joined the exchange-rate mechanism (ERM II) under the European Monetary System (EMS) for 2 consecutive years and should not have devaluated its currency during the period. A budget deficit occurs when an entity (often a government) spends more money than it takes in. ... IMF 2005 figures of GDP of nominal compared to PPP. A regions gross domestic product, or GDP, is one of the several measures of the size of its economy. ... Government debt (also known as public debt or national debt) is money (or credit) owed by any level of government; either central government, federal government, municipal government or local government. ... The European exchange rate mechanisms (or ERM) was a system introduced by the European Community in March 1979, as part of the European Monetary System (EMS), to reduce exchange-rate variability and achieve monetary stability in Europe, in preparation for Economic and Monetary Union and the introduction of a single... There are three stages of monetary cooperation in the European Union. ...

4. Long-term interest rates: The nominal long-term interest rate must not be more than 2 percentage points higher than the 3 best-performing member states (based on inflation).

The purpose of setting the criteria is to maintain the price stability within the Eurozone even with the inclusion of new member states.

Fulfilment of criteria

¹ Current EU member states that have not yet adopted the Euro, candidates and official potential candidates.
² No more than 1.5% higher than the 3 best-performing EU member states.
³ No more than 2% higher than the 3 best-performing EU member states.
⁴ Formal obligation for Euro adoption in the country EU Treaty of Accession or the Framework for membership negotiations.
⁵ Values from 2005 statistics. To be updated each year. ██ criteria fullfilled The euro (EUR or €) is the currency of 12 European Union (EU) member states (Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain), three European microstates which have currency agreements with the EU (Monaco, San Marino and the Vatican City State), Andorra, Montenegro and the Kosovo... In economics, the inflation rate is the rate of increase of the average price level (a measure of inflation). ... Finance addresses the ways in which individuals, business entities and other organizations allocate and use monetary resources over time. ... The European exchange rate mechanisms (or ERM) was a system introduced by the European Community in March 1979, as part of the European Monetary System (EMS), to reduce exchange-rate variability and achieve monetary stability in Europe, in preparation for Economic and Monetary Union and the introduction of a single... An interest rate is the price a borrower pays for the use of money he does not own, and the return a lender receives for deferring his consumption, by lending to the borrower. ... The European Commission (formally the Commission of the European Communities) is the executive body of the European Union. ... A budget deficit occurs when an entity (often a government) spends more money than it takes in. ... Government debt (also known as public debt or national debt) is money (or credit) owed by any level of government; either central government, federal government, municipal government or local government. ... The five economic tests are the criteria defined by the United Kingdom Government that are to be used to assess the UKs readiness to join the Eurozone and adopt the euro as its currency. ... January 1 is the first day of the calendar year in both the Julian and Gregorian calendars. ... 1999 (MCMXCIX) was a common year starting on Friday, and was designated the International Year of Old Farts by the Sometimes-United Nations. ... As part of its accession to the European Union, Sweden is bound to adopt the euro as its currency. ... June 28 is the 179th day of the year (180th in leap years) in the Gregorian Calendar, with 186 days remaining. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... On January 1, 2007, Slovenia is expected to replace its national currency, the tolar, with the euro. ... June 28 is the 179th day of the year (180th in leap years) in the Gregorian Calendar, with 186 days remaining. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... TBA (To Be Announced, To Be Ascertained, To Be Arranged, To Be Advised, or To Be Aired ), TBC (To Be Confirmed), TBD (To Be Determined or To Be Decided or To Be Defined) and TBR (To Be Released, To Be Reviewed, or To Be Revealed )—almost always used in their... Estonian euro coins feature only a single design for all eight coins: This is a design by Lembit Lõhmus and features a map of Estonia together with the word Eesti (Estonia). ... May 2 is the 122nd day of the year in the Gregorian calendar (123rd in leap years). ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... TBA (To Be Announced, To Be Ascertained, To Be Arranged, To Be Advised, or To Be Aired ), TBC (To Be Confirmed), TBD (To Be Determined or To Be Decided or To Be Defined) and TBR (To Be Released, To Be Reviewed, or To Be Revealed )—almost always used in their... Cypriot euro coins have not yet been designed. ... May 2 is the 122nd day of the year in the Gregorian calendar (123rd in leap years). ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... TBA (To Be Announced, To Be Ascertained, To Be Arranged, To Be Advised, or To Be Aired ), TBC (To Be Confirmed), TBD (To Be Determined or To Be Decided or To Be Defined) and TBR (To Be Released, To Be Reviewed, or To Be Revealed )—almost always used in their... Maltese euro coins have not yet been designed. ... May 2 is the 122nd day of the year in the Gregorian calendar (123rd in leap years). ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... TBA (To Be Announced, To Be Ascertained, To Be Arranged, To Be Advised, or To Be Aired ), TBC (To Be Confirmed), TBD (To Be Determined or To Be Decided or To Be Defined) and TBR (To Be Released, To Be Reviewed, or To Be Revealed )—almost always used in their... Latvian euro coins have not yet been designed. ... June 28 is the 179th day of the year (180th in leap years) in the Gregorian Calendar, with 186 days remaining. ... 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... TBA (To Be Announced, To Be Ascertained, To Be Arranged, To Be Advised, or To Be Aired ), TBC (To Be Confirmed), TBD (To Be Determined or To Be Decided or To Be Defined) and TBR (To Be Released, To Be Reviewed, or To Be Revealed )—almost always used in their... Lithuanian euro coins share a single national side for all eight coins. ... November 28 is the 332nd day (333rd on leap years) of the year in the Gregorian Calendar. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... TBA (To Be Announced, To Be Ascertained, To Be Arranged, To Be Advised, or To Be Aired ), TBC (To Be Confirmed), TBD (To Be Determined or To Be Decided or To Be Defined) and TBR (To Be Released, To Be Reviewed, or To Be Revealed )—almost always used in their... Slovak euro coins are euro coins supposed to represent Slovakia when the country adopts the euro in 2009. ... Bulgarian euro coins have not yet been designed. ... Czech euro coins have not yet been designed. ... Hungarian euro coins have not yet been designed. ... Polish euro coins have not yet been designed. ... Romanian euro coins have not yet been designed. ... Motto: none Anthem: Bože pravde (English: God of Justice) Capital (and largest city) Belgrade Serbian, cyrillic script1 Government Republic  - Prime Minister Vojislav KoÅ¡tunica  - President Boris Tadić Establishment    - Formation 814   - First Serbian Uprising 1804   - Internationally recognized July 13, 1878   - Kingdom of SCS created December 1, 1918   - SCG dissolved June... Motto: none Anthem: Oj, svijetla majska zoro Capital Podgorica Largest city Podgorica Serbian of the Ijekavian dialect1 Government Republic  - President Filip Vujanović  - Prime Minister Željko Å turanović Independence From Serbia and Montenegro   - Declared June 3, 2006   - Recognised June 8, 2006  Area  - Total 14,026 km² (159th) 5,414 sq mi   - Water... The European Union (EU) was originally created by six founding states in 1958 (following the earlier establishment by the same six states of the European Coal and Steel Community in 1952), but has grown to its current size of 25 member states. ... The Treaty of Accession can refer to the following treaties of the European Union: Treaty of Accession 2005 Treaty of Accession 2003 The following Acts of Accession: Acts of Accession of Denmark, Ireland and the United Kingdom, signed on 22 January 1972 Act of Accession of Greece, signed on 28...

See also

• Euro adoption by the new members states
• Economy of the European Union#Economies of member states
• Stability and Growth Pact

The Eurozone (also called Euro Area, Eurosystem or Euroland) is the subset of European Union member states which have adopted the euro, creating a currency union. ... This article should belong in one or more categories. ... The Stability and Growth Pact is an agreement by European Union member states related to their conduct of fiscal policy, to facilitate and maintain Economic and Monetary Union of the European Union. ...

External link

• http://europa.eu/scadplus/leg/en/lvb/l25014.htm