|Author (Corporate)||European Central Bank|
|Publisher||European Central Bank (ECB)|
|Publication Date||June 2022|
|Content Type||News, Report|
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.
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.
|Subject Categories||Economic and Financial Affairs|
|Subject Tags||Economic and Monetary Union [EMU]|
|Keywords||Euro | Single Currency
|Countries / Regions||Bulgaria, Croatia, Czechia, Hungary, Poland, Romania, Sweden|
|International Organisations||European Union [EU]|