Countries wishing to join need to have:
- stable institutions guaranteeing democracy, the rule of law, human rights and respect for and protection of minorities;
- a functioning market economy and the capacity to cope with competition and market forces in the EU;
What country wants to join the European Union?
There are five recognised candidates for membership of the European Union: Turkey (applied in 1987), North Macedonia (applied in 2004), Montenegro (applied in 2008), Albania (applied in 2009) and Serbia (applied in 2009).
What are the requirements to join the EU?
All EU Member States, except Denmark, are required to adopt the euro and join the euro area. To do this they must meet certain conditions known as ‘convergence criteria’. An accession country that plans to join the Union must align many aspects of its society – social, economic and political – with those of EU Member States.
What do you need to know about euro area candidates?
In addition to meeting the economic convergence criteria, a euro area candidate country must make changes to national laws and rules, notably governing its national central bank and other monetary issues, in order to make them compatible with the Treaty.
What happens when you join the euro area?
Adopting the euro and joining the euro area takes integration a step further – it is a process of much closer economic integration with the other euro area Member States. Adopting the euro also demands extensive preparations. In particular, it requires economic and legal convergence.
What are the economic entry criteria for the Euro?
In short, the economic entry criteria are intended to ensure economic convergence – they are known as the ‘ convergence criteria ‘ (or ‘Maastricht criteria’) and were agreed by the EU Member States in 1991 as part of the preparations for introduction of the euro.
