Any country that satisfies the conditions for membership can apply. These conditions are known as the ‘Copenhagen criteria’ and include a free-market economy, a stable democracy and the rule of law, and the acceptance of all EU legislation, including of the euro.
What makes a country qualify as a candidate for the EU?
Article 49 of the Maastricht Treaty (as amended) says that any “European state” that respects the “principles of liberty, democracy, respect for human rights and fundamental freedoms, and the rule of law”, may apply to join the EU.
What are 3 basic requirements a state must fulfill to enter the EU?
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 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 are the economic criteria for joining the euro area?
Economic criteria. The economic conditions for joining the euro area help to ensure that a country is ready for integration into the monetary regime of the euro area. There are 4 economic convergence criteria: The inflation rate cannot be higher than 1.5 percentage points above the rate of the 3 best-performing member states.
What are the conditions for joining the European Union?
These were mainly defined at the European Council in Copenhagen in 1993 and are hence referred to as ‘Copenhagen criteria’. Countries wishing to join need to have: the ability to take on and implement effectively the obligations of membership, including adherence to the aims of political, economic and monetary union.
What happens when a non euro area country joins the euro area?
When a non-euro area country enters the ERM II, its national currency is tied to the euro at a central rate that is agreed with the euro area member states, the non-euro area countries already participating in ERM II and the ECB, with the involvement of the Commission.
