The 2018 Convergence Report issued on 23 May assesses Member States' progress towards joining the euro area. The report covers the seven non-euro area Member States that are legally committed to adopting the euro: Bulgaria, the Czech Republic, Croatia, Hungary, Poland, Romania and Sweden. It finds that these Member States generally display considerable nominal convergence, but none of them currently meet all the formal conditions for joining the euro area. Two of these Member States, Bulgaria and Croatia, fulfil all of the convergence criteria, except for the exchange rate criterion. All of the concerned Member States fulfil the criterion on public finances. Bulgaria, the Czech Republic, Croatia, Hungary and Sweden fulfil the long-term interest rate criterion while Bulgaria, Croatia, Poland and Sweden meet the price stability criterion. None of the Member States fulfils the exchange rate criterion, as none of them are members of the Exchange Rate Mechanism (ERM II). The report finds that legislation is not fully compatible with the rules of the Economic and Monetary Union in any of the Member States, except Croatia.