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As part of the EU treaty, all of the EU Member States are obliged to adhere to the Stability and Growth Pact (SGP), which serves as a framework to ensure price stability and fiscal responsibility, has adopted identical limits for governments budget deficit and debt as the convergence criteria. As several countries did not exercise a sufficient ...
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 ...
Criterion potentially fulfilled: If the budget deficit exceeds the 3% limit, but is "close" to this value (the European Commission has deemed 3.5% to be close by in the past), [11] then the criteria can still potentially be fulfilled if either the deficits in the previous two years are significantly declining towards the 3% limit, or if the ...
This template stores the convergence criteria reference values for {{Euro convergence criteria (2024)}} so that they can be used by {{Euro convergence criteria row}} to determine if a state meets the criteria. The parameters are: HICP - maximum Harmonised Index of Consumer Prices
The euro convergence criteria are the set of requirements that needs to be fulfilled in order for a country to be approved to participate in the third stage. An important element of this is participation for a minimum of two years in the European Exchange Rate Mechanism ("ERM II"), in which candidate currencies demonstrate economic convergence ...
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Y - This is the year that the convergence evaluation was performed, and is used for disambiguation of the historic version of {{Euro convergence criteria}} (ie {{Euro convergence criteria (2012)}}). It must equal the year of the tables (ie the part of the file name in brackets) or 2012 in this example.