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The EMU opt-out means that Denmark is not obliged to participate in the third phase of the European Exchange Rate Mechanism, that is, to replace the Danish krone with the euro. The abolition of the euro opt-out was put to a referendum in 2000 and was rejected. The JHA opt-out exempts Denmark from certain areas of home affairs.
1 in ERM II, without an opt-out 1 in ERM II, with an opt-out ( Denmark ) 5 not in ERM II, but obliged to join the eurozone on meeting the convergence criteria ( Czech Republic , Hungary , Poland , Romania , and Sweden )
The opt-out from the JHA policy area was originally obtained by Ireland and the United Kingdom in a protocol to the Treaty of Amsterdam of 1997, and was retained by both in the Treaty of Lisbon. [4] In contrast, Denmark has a more rigid opt-out from the area of freedom, security and justice.
Not assessed due to opt-out from eurozone membership Rejected euro adoption by referendum in 2000: Hungary: Forint (HUF) Free floating 2004-05-01 None Not on government's agenda [10] Not compliant with any of the 5 criteria Poland: Złoty (PLN) Free floating 2004-05-01 None Not on government's agenda [11] Not compliant with any of the 5 ...
Denmark uses the krone as its currency and does not use the euro, having negotiated the right to opt out from participation under the Maastricht Treaty of 1992. In 2000, the government held a referendum on introducing the euro, which was defeated with 53.2% voting no and 46.8% voting yes.
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 ...
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The defence opt-out meant that Denmark did not participate in the Common Security and Defence Policy or EU military operations. [5] In addition, the opt-out meant that Denmark did not participate in the decision processes in the EU related to military operations. [6] This is the third referendum to be held in relation to the country's opt-outs.