Council of the European Union

European Commission

European Council

European Parliament

Demonstrating long-term economic convergence with other Eurozone countries

Achieving a low level of public debt relative to GDP

Maintaining a stable exchange rate against other EU currencies for at least two years

Implementing protectionist trade policies

2004

2002

1999

2007

Promote economic stability and integration among EU member states

Establish a common foreign and security policy

Coordinate immigration policies among EU countries

Standardize taxation policies across the Eurozone

Lisbon Treaty

Treaty of Rome

Maastricht Treaty

Treaty of Paris

Limit budget deficits and public debt levels of Eurozone countries

Promote sustainable development in the Eurozone

Increase social welfare spending in member states

Facilitate free movement of labor within the European Union

Military spending, defense capabilities, and NATO membership

Unemployment rate, income inequality, and social welfare spending

Inflation rate, public debt, and current account deficit

Human rights record, democratic governance, and rule of law

Euro adoption

Euro integration

Euro transfer

Eurozone conversion

Harmonization of both monetary and fiscal policies among member states

Existence of a single monetary policy and currency, but varying fiscal policies

Establishment of a customs union but no single currency

Absence of both a single currency and common fiscal policies

Spain

Slovakia

Austria

Denmark