Answer to Question #199639 in Macroeconomics for Joseph

Question

“EU countries that are not member of the euro area do not fulfil the EMU accession

criteria.” Is this true?

Answer 1

The statement is not true.

This is because the European member states are required to fulfil the convergence criteria (also known as the Maastricht criteria) in order to enter the third stage of Economic and Monetary Union and adopt euro as their currency.