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convergence criteria


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The economic tests used to determine whether member states of the European Union are ready to adopt the Euro, as set out in the 1991 Masstricht Treaty. The four principal criteria concern (i) the inflation rate; (ii) ratios of government deficit and govenment debt to GDP; (iii) long-term interest rates; and (iv) membership of the Exchange Rate Mechanism (ERM). See European Monetary System

(i) the inflation rate; (ii) ratios of government deficit and govenment debt to GDP; (iii) long-term interest rates; and (iv) membership of the Exchange Rate Mechanism (ERM).

Subjects: Financial Institutions and Services.


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