Criteria for a Country to Adopt European Currency

* Average inflation no more than 1.5 percent above the rate of three best performing countries in the EC.* Long-term interest rates no more than 2 points above the three best performers. * Budget deficit no higher than 3 percent of gross national product (GNP), except if it is in steady decline and in exceptional cases. * Public debt no more than 60 percent of GNP, except if it is dropping steadily toward the threshold of reference. * Stable currency exchange rate for two years in the European Monetary System (EMS).

of 5 stories this month > Get unlimited stories
You've read 5 of 5 free stories

Only $1 for your first month.

Get unlimited Monitor journalism.