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Posted: Wed Aug 08, 2007 1:18 pm Post subject: Eurozone criteria. |
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Eurozone criteria.
In simple terms, what criteria need to be satisfied for a member state to join the eurozone?
The criteria that need to be satisfied are also known as the Maastricht criteria. These are:
1. Inflation: no more than 1.5 per cent above the levels of the three best-performing EU states.
2. Long-term interest rates: no higher than two per cent above those for the best performing EU member states.
3. Budget deficit: This must not exceed three per cent of GDP.
4. Public debt: Overall level must be below (or falling towards), a reference level of 60 per cent GDP
5. Exchange rate: A stable rate within the European Monetary System for two years.
6. Central bank: There must be an independent national central bank.
_________________ Roland Camilleri
Moderator
Sydney , Australia. |
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