The conclusion is set out in the 2022 Convergence Report issued on 1 June, which assesses the progress that Bulgaria, Czechia, Croatia, Hungary, Poland, Romania and Sweden have made towards joining the euro area. These are the seven non-euro area Member States that are legally committed to adopting the euro. The Report concludes that only Croatia and Sweden meet the price stability criterion; all Member States fulfil the criterion on public finances, except Romania which is the only Member State subject to an excessive deficit procedure; Bulgaria and Croatia are the two Member States fulfilling the exchange rate criterion; and Bulgaria, Croatia, Czechia and Sweden fulfil the long-term interest rate criterion. The Report also finds that Croatia fulfils the four nominal convergence criteria and its legislation is fully compatible with the requirements of the Treaty and the Statute of the European System of Central Banks/ECB. The Commission's assessment is complemented by the European Central Bank's (ECB) own Convergence Report, which was published on the same day. The Commission has adopted proposals for a Council Decision and a Council Regulation on euro introduction in Croatia.