Search results
Results from the WOW.Com Content Network
The purpose of setting the criteria was to achieve price stability within the eurozone and ensure it wasn't negatively impacted when new member states accede. The framework of the five criteria was outlined by article 109j.1 of the Maastricht Treaty, and the attached Protocol on the Convergence Criteria and Protocol on the Excessive Deficit ...
The Treaty on European Union, commonly known as the Maastricht Treaty, is the foundation treaty of the European Union (EU). Concluded in 1992 between the then-twelve member states of the European Communities, it announced "a new stage in the process of European integration" [2] chiefly in provisions for a shared European citizenship, for the eventual introduction of a single currency, and ...
All new EU members having joined the bloc after the signing of the Maastricht Treaty in 1992 are obliged to adopt the euro under the terms of their accession treaties. [6] However, the last of the five economic convergence criteria, which need to be complied with in order to qualify for euro adoption, is the exchange rate stability criterion ...
Significant progress towards these new common "convergence benchmark standards" (focusing primarily on labour markets, competitiveness, business environment, public administrations, and certain aspects of tax policy like i.e. the corporate tax base) – and a continued adherence to them once they are reached – would need to be verified by ...
Following a Report of the Delors Commission in 1988, [275] the Treaty of Maastricht made economic and monetary union an objective, first by completing the internal market, second by creating a European System of Central Banks to coordinate common monetary policy, and third by locking exchange rates and introducing a single currency, the euro.
Although Poland participates in the area of freedom, security and justice, it secured — along with another then-member state the United Kingdom — a protocol that clarified how the Charter of Fundamental Rights of the European Union, a part of the Treaty of Lisbon, would interact with national law in their countries limiting the extent that ...
The European Union Membership criteria are defined by the three documents: The 1992 Treaty of Maastricht (Article 49) The declaration of the June 1993 European Council in Copenhagen, i.e., Copenhagen criteria—describing the general policy in more details political; economic; legislative; Framework for negotiations with a particular candidate ...
The Treaty on the European Union (2007) is one of the primary Treaties of the European Union, alongside the Treaty on the Functioning of the European Union (TFEU). The TEU forms the basis of EU law , by setting out general principles of the EU's purpose, the governance of its central institutions (such as the Commission, Parliament, and Council ...