Who can join and when?
All EU Member States , except Denmark and the United Kingdom, are required to adopt the euro and join the euro area. To do this they must meet certain conditions known as 'convergence criteria'.
Convergence criteria for joining
In order to adopt the euro, EU countries have to meet specific economic conditions designed to ensure economic convergence with the countries of the euro area.
The Convergence Reports examine whether the Member States satisfy the necessary conditions to adopt the single currency. The Treaty on the Functioning of the European Union requires the Commission and the European Central Bank to issue these reports at least once every two years or at the request of an EU Member State which would like to join the euro area.