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CONVERGENCE CRITERIA AND THEIR FULFILMENT BY THE COUNTRIES OUTSIDE THE EURO-ZONE AgEcon
Nagy, Henrietta; Kaposzta, Jozsef.
In order to ensure the sustainable convergence required for the achievement of economic and monetary union (EMU), the Treaty sets five convergence criteria which must be met by each Member State before it can take part in the third stage of EMU and hence before it can adopt the euro. Compliance is checked on the basis of reports produced by the Commission and the European Central Bank (ECB). The criteria are: • government finances (the Commission when drawing up its annual recommendation to the Council of Finance Ministers examines compliance with budgetary discipline on the basis of the following two criteria): o the ratio of annual government deficit to gross domestic product must not exceed 3% at the end of the preceding financial year...
Tipo: Book Palavras-chave: Economic and monetary union; New member countries; Analyses; Agricultural and Food Policy; Community/Rural/Urban Development; International Development; Research Methods/ Statistical Methods.
Ano: 2008 URL: http://purl.umn.edu/43186
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