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Euro convergence criteria

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The euro convergence criteria (also known as the Maastricht criteria) are the criteria which European Union member states are required to meet to enter the third stage of the Economic and Monetary Union (EMU) and adopt the euro as their currency. [1]

39 relations: Andorra, Balanced budget, Copenhagen criteria, Council of the European Union, Cyprus, Debt-to-GDP ratio, Economic and Monetary Union of the European Union, Enlargement of the eurozone, Euro, Euro coins, Eurogroup, European Central Bank, European Commission, European Exchange Rate Mechanism, European Fiscal Compact, European Monetary System, European Stability Mechanism, European Union, Eurozone, Financial crisis of 2007–2008, Government budget balance, Government debt, Harmonised Index of Consumer Prices, International Monetary Fund, Italy, Latvia, Maastricht Treaty, Malta, Member state of the European Union, Microstates and the European Union, Ministry of Finance (Poland), Monaco, Price stability, San Marino, Sixpack (European Union law), Stability and Growth Pact, Treaty of Amsterdam, Treaty of Rome, Vatican City.

Andorra

Andorra, officially the Principality of Andorra (Principat d'Andorra), also called the Principality of the Valleys of Andorra (Principat de les Valls d'Andorra), is a sovereign landlocked microstate on the Iberian Peninsula, in the eastern Pyrenees, bordered by France in the north and Spain in the south.

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Balanced budget

A balanced budget (particularly that of a government) is a budget in which revenues are equal to expenditures.

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Copenhagen criteria

The Copenhagen Criteria are the rules that define whether a country is eligible to join the European Union.

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Council of the European Union

The Council of the European Union, referred to in the treaties and other official documents simply as the Council is the third of the seven Institutions of the European Union (EU) as listed in the Treaty on European Union.

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Cyprus

Cyprus (Κύπρος; Kıbrıs), officially the Republic of Cyprus (Κυπριακή Δημοκρατία; Kıbrıs Cumhuriyeti), is an island country in the Eastern Mediterranean and the third largest and third most populous island in the Mediterranean.

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Debt-to-GDP ratio

In economics, the debt-to-GDP ratio is the ratio between a country's government debt (a cumulative amount) and its gross domestic product (GDP) (measured in years).

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Economic and Monetary Union of the European Union

The Economic and Monetary Union (EMU) is an umbrella term for the group of policies aimed at converging the economies of member states of the European Union at three stages.

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Enlargement of the eurozone

The enlargement of the eurozone is an ongoing process within the European Union (EU).

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Euro

The euro (sign: €; code: EUR) is the official currency of the European Union.

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Euro coins

There are eight euro coin denominations, ranging from one cent to two euros (the euro is divided into a hundred cents).

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Eurogroup

The Eurogroup is the recognised collective term for informal meetings of the finance ministers of the eurozone—those member states of the European Union (EU) which have adopted the euro as their official currency.

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European Central Bank

The European Central Bank (ECB) is the central bank for the euro and administers monetary policy of the euro area, which consists of 19 EU member states and is one of the largest currency areas in the world.

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European Commission

The European Commission (EC) is an institution of the European Union, responsible for proposing legislation, implementing decisions, upholding the EU treaties and managing the day-to-day business of the EU.

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European Exchange Rate Mechanism

The European Exchange Rate Mechanism (ERM) was a system introduced by the European Economic Community on 13 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 currency, the euro, which took place on 1 January 1999.

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European Fiscal Compact

The Treaty on Stability, Coordination and Governance in the Economic and Monetary Union; also referred to as TSCG or more plainly the Fiscal Stability Treaty is an intergovernmental treaty introduced as a new stricter version of the Stability and Growth Pact, signed on 2 March 2012 by all member states of the European Union (EU), except the Czech Republic and the United Kingdom.

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European Monetary System

European Monetary System (EMS) was an arrangement established in 1979 under the Jenkins European Commission where most nations of the European Economic Community (EEC) linked their currencies to prevent large fluctuations relative to one another.

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European Stability Mechanism

The European Stability Mechanism (ESM) is an intergovernmental organization located in Luxembourg City, which operates under public international law for all eurozone Member States having ratified a special ESM intergovernmental treaty.

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European Union

The European Union (EU) is a political and economic union of EUnum member states that are located primarily in Europe.

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Eurozone

No description.

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Financial crisis of 2007–2008

The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.

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Government budget balance

A government budget is a financial statement presenting the government's proposed revenues and spending for a financial year.

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Government debt

Government debt (also known as public interest, public debt, national debt and sovereign debt) is the debt owed by a government.

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Harmonised Index of Consumer Prices

The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank (ECB).

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International Monetary Fund

The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of "189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1945 at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international payment system.

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Italy

Italy (Italia), officially the Italian Republic (Repubblica Italiana), is a sovereign state in Europe.

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Latvia

Latvia (or; Latvija), officially the Republic of Latvia (Latvijas Republika), is a sovereign state in the Baltic region of Northern Europe.

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Maastricht Treaty

The Treaty on European Union (TEU; also referred to as the Treaty of Maastricht is one of two treaties forming the constitutional basis of the European Union (EU), the other being the Treaty on the Functioning of the European Union (TFEU; also referred to as the Treaty of Rome). The TEU was originally signed on 7 February 1992 by the members of the European Community in Maastricht, Netherlands to further European integration. On 9–10 December 1991, the same city hosted the European Council which drafted the treaty. Upon its entry into force on 1 November 1993 during the Delors Commission, it created the three pillars structure of the European Union and led to the creation of the single European currency, the euro. TEU comprised two novel titles respectively on Common Foreign and Security Policy and Cooperation in the Fields of Justice and Home Affairs, which replaced the former informal intergovernmental cooperation bodies named TREVI and European Political Cooperation on EU Foreign policy coordination. In addition TEU also comprised three titles which amended the three pre-existing community treaties: Treaty establishing the European Atomic Energy Community, Treaty establishing the European Coal and Steel Community, and the Treaty establishing the European Economic Community which had its abbreviation renamed from TEEC to TEC (being known as TFEU since 2007). The Maastricht Treaty (TEU) and all pre-existing treaties, has subsequently been further amended by the treaties of Amsterdam (1997), Nice (2001) and Lisbon (2009).

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Malta

Malta, officially known as the Republic of Malta (Repubblika ta' Malta), is a Southern European island country consisting of an archipelago in the Mediterranean Sea.

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Member state of the European Union

The European Union (EU) consists of 28 member states.

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Microstates and the European Union

There are a number of microstates in Europe.

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Ministry of Finance (Poland)

Poland's Ministry of Finance (Ministerstwo Finansów), headed by the Minister of Finance (Minister Finansów), is part of the government of Poland.

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Monaco

Monaco, officially the Principality of Monaco (Principauté de Monaco), is a sovereign city-state, country and microstate on the French Riviera in Western Europe.

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Price stability

Price stability is a goal of monetary and fiscal policy aiming to support sustainable rates of economic activity.

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San Marino

San Marino, officially the Republic of San Marino (Repubblica di San Marino), also known as the Most Serene Republic of San Marino (Serenissima Repubblica di San Marino), is an enclaved microstate surrounded by Italy, situated on the Italian Peninsula on the northeastern side of the Apennine Mountains.

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Sixpack (European Union law)

The EU economic governance, Sixpack describes a set of European legislative measures to reform the Stability and Growth Pact and introduces greater macroeconomic surveillance.

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Stability and Growth Pact

The Stability and Growth Pact (SGP) is an agreement, among the 28 member states of the European Union, to facilitate and maintain the stability of the Economic and Monetary Union (EMU).

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Treaty of Amsterdam

The Treaty of Amsterdam, officially the Treaty of Amsterdam amending the Treaty on European Union, the Treaties establishing the European Communities and certain related acts, was signed on 2 October 1997, and entered into force on 1 May 1999; it made substantial changes to the Treaty of Maastricht, which had been signed in 1992.

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Treaty of Rome

The Treaty on the Functioning of the European Union (TFEU; also referred to as the Treaty of Rome) is one of two treaties forming the constitutional basis of the European Union (EU), the other being the Treaty on European Union (TEU; also referred to as the Treaty of Maastricht).

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Vatican City

Vatican City (Città del Vaticano; Civitas Vaticana), officially the Vatican City State or the State of Vatican City (Stato della Città del Vaticano; Status Civitatis Vaticanae), is an independent state located within the city of Rome.

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Redirects here:

3% rule, Convergence criteria, EU convergence criteria, Euro convergence, Maastricht criteria.

References

[1] https://en.wikipedia.org/wiki/Euro_convergence_criteria

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