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The enlargement of the eurozone is an ongoing process within the European Union (EU).All member states of the European Union, except Denmark which negotiated an opt-out from the provisions, are obliged to adopt the euro as their sole currency once they meet the criteria, which include: complying with the debt and deficit criteria outlined by the Stability and Growth Pact, keeping inflation and ...
The first enlargement of the eurozone, to Greece, took place on 1 January 2001, one year before the euro physically entered into circulation. The next enlargements were to states which joined the EU in 2004 , and then joined the eurozone on 1 January of the year noted: Slovenia in 2007, Cyprus in 2008, Malta in 2008, Slovakia in 2009, Estonia ...
Greece joined the EEC in 1981 followed by Spain and Portugal in 1986. None of these nations had a referendum related to accession . The year 1985, however, saw the first time a territory voted to leave the Community , when Greenland was granted home rule by Denmark and the territory used its new powers and voted to withdraw from the Community ...
BRUSSELS (AP) -- Greek Prime Minister Alexis Tsipras and skeptical European leaders negotiated past a self-imposed deadline into the early hours of Monday, with talks stuck on how Greece would ...
Though the 16-nation eurozone sensed relief on Wednesday as Greece announced new austerity measures to reduce its spectacularly unsustainable budget deficit, observers who peek under the eurozone ...
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Several eurozone member states (namely Greece, Italy, Portugal, Ireland, and Cyprus) were unable to repay or refinance their government debt or to bail out fragile banks under their national supervision without the assistance of other eurozone countries, the European Central Bank (ECB), or the International Monetary Fund (IMF).
"Plan Z" is the name given to a 2012 plan to enable Greece to withdraw from the eurozone in the event of Greek bank collapse. [27] It was drawn up in absolute secrecy by small teams totalling approximately two dozen officials at the EU Commission (Brussels), the European Central Bank (Frankfurt) and the IMF (Washington). [27]