Poland, five other EU states do not meet euro adoption criteria, European Commission says

Poland and five other European Union countries do not meet the criteria for adopting the bloc's common euro currency, according to a new report from the European Commission.

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Within the European Union, the euro is not legal tender in Poland, Bulgaria, the Czech Republic, Denmark, Hungary, Romania and Sweden.

Denmark, however, has an opt-out option from joining the single European currency.

The remaining countries are not yet ready for euro adoption, according to the European Commission.

We looked at the progress made by the six countries committed to adopting the euro.

?￰ﾟﾇﾬ, ?￰ﾟﾇ﾿, ?￰ﾟﾇﾺ, ?￰ﾟﾇﾱ, ?￰ﾟﾇﾴ and ?￰ﾟﾇﾪ have made mixed progress towards fulfilling the criteria for joining the euro area, with still some way to go.

Here are the key findings of our Convergence Report ↓

— European Commission (@EU_Commission) June 26, 2024

Poland does not meet any of the guidelines considered necessary by the European Commission to introduce the single currency.

These criteria include price stability, sound and sustainable public finances, exchange-rate stability and long-term interest rates.

The euro serves as the official currency for 20 EU nations forming the euro area, commonly referred to as the eurozone.

Croatia was the last EU country to join the eurozone on January 1, 2023.

(mp/gs)

Source: PAP/commission.europa.eu