Prospective eurozone members fail to meet convergence criteria, ECB says

The European Central Bank: many countries failing to meet "convergence criteria"

Lasting policy adjustments are still required in "many" of the EU countries outside the eurozone before they can join the single currency area, the European Central Bank (ECB) has said.

All EU member countries, except the UK and Denmark, are obliged by treaty to adopt the euro. This leaves seven current members that must work to meet the "convergence criteria" to join the eurozone.

These countries "comply with most of the quantitative economic criteria" for joining, but fail to meet other

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