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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 ...
According to the Maastricht Treaty, each current member state and the European Parliament must agree to any enlargement. The process of enlargement is sometimes referred to as European integration. This term is also used to refer to the intensification of co-operation between EU member states as national governments allow for the gradual ...
The most advanced stage of the negotiations, defined as meeting the interim benchmarks for negotiation chapter 23 and 24 which allow the closing process of all negotiation chapters to start, has so far only been reached by Montenegro. [3] Montenegro's declared political goal is to achieve membership of the EU by 2028. [4] [5]
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 ...
Enlargement of the European Economic Area is a separate process. Since April 2014, Croatia's EEA agreement is being provisionally applied pending ratification by Croatia, all EEA states, and the European Union. Croatia has adopted the euro as its national currency in 2023.
More far-reaching measures (i.e. commonly agreed "convergence benchmark standards" of a more binding legal nature, and a treasury for the eurozone), could also be agreed to complete the EMU's economic and institutional architecture, for the purpose of making the convergence process more binding.
“The disinflation process is well on track,” she said in her post-decision statement delivered at a news conference. Fighting inflation is the bank's main job. ... The eurozone is expected to ...
On 1 January 2007, Bulgaria and Romania became member states of the European Union (EU) in the fifth wave of EU enlargement. [1] Bulgaria and Romania did not have a Referendum related to European Union accession.