Questions and answers: Convergence report reviews Member States' progress towards joining the euro area
What is the convergence report?
The European Commission's convergence report provides an assessment of the progress non-euro area Member States have made towards adopting the euro. It forms the basis for the Council of the EU decision on whether a Member State fulfils the conditions for joining the euro area.
The convergence report of the European Commission is separate to, but published in parallel with, the convergence report of the ECB.
Convergence reports are issued every two years, or when there is a specific request from a Member State to assess its readiness to join the euro area, e.g. Latvia in 2013.
All Member States, except Denmark, are required to join the euro area. Denmark, which negotiated an opt-out arrangement in the Maastricht Treaty, is therefore not covered by the report.(...)
The European Commission's convergence report provides an assessment of the progress non-euro area Member States have made towards adopting the euro. It forms the basis for the Council of the EU decision on whether a Member State fulfils the conditions for joining the euro area.
The convergence report of the European Commission is separate to, but published in parallel with, the convergence report of the ECB.
Convergence reports are issued every two years, or when there is a specific request from a Member State to assess its readiness to join the euro area, e.g. Latvia in 2013.
All Member States, except Denmark, are required to join the euro area. Denmark, which negotiated an opt-out arrangement in the Maastricht Treaty, is therefore not covered by the report.(...)
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