ECB Convergence Report 2022

Author (Corporate)
Publication Date June 2022
ISBN 978-92-899-5206-4
ISSN 1725-9525
EC QB-AD-22-001-EN-N
Content Type ,


Report published by the European Central Bank (ECB) in June 2022, comprising an assessment of Member States with a derogation regarding their fulfilment of the conditions for adoption of the common currency (Euro). It was prepared in accordance with Article 140(1) TFEU.

Further information:

The Member States of the European Union (EU) that have not yet fulfilled the necessary conditions for the adoption of the euro are referred to as Member States with a derogation.

Denmark negotiated an opt-out arrangement before the adoption of the Maastricht Treaty and does not participate in the third stage of Economic and Monetary Union (EMU). Article 140(1) TFEU requires the European Commission and the ECB to report to the Council of the European Union, at least once every two years, or at the request of a Member State with a derogation, on the progress made by such Member States in fulfilling their obligations regarding the achievement of EMU.

This Convergence Report covers the following seven Member States with a derogation: Bulgaria, Czech Republic, Croatia, Hungary, Poland, Romania and Sweden. The ECB’s assessment concludes that Croatia is within the reference values of the convergence criteria.

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RFI News, 01/06/2022: EU says Croatia ready to adopt euro in 2023
Politico, 01/06/2022: Croatia on track to adopt the euro

European Central Bank (ECB): Press Release, 01/06/2022: ECB reports on EU countries’ progress towards euro adoption
European Central Bank (ECB): Speech, 01/06/2022: The ECB’s 2022 Convergence Report. Introductory statement by Fabio Panetta, Member of the Executive Board of the ECB, at the meeting of the Euro Accession Countries Working Group of the Committee on Economic and Monetary Affairs of the European Parliament
Croatian Central Bank (HNB): Press Release, 01/06/2022: Historic step on Croatia's journey towards adopting the euro

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