EU Convergence Criteria

The term refers to the criteria used to assess whether the economy of a country wishing to join the euro zone has converged sufficiently with existing members of the zone. Before the launch of the euro in 1999 the criteria were used to judge the compatibility of the economies of the prospective members of the euro zone. The criteria were laid down in the Maastricht Treaty of 1992 and so are also known as the Maastricht Criteria.

See also: EU