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Britain's conditions revolve around whether there is "sustainable convergence" between the British and euro economies.
So to enter the third stage of economic and monetary union it is necessary to have achieved a high degree of sustainable convergence.
He would appear to be introducing a new convergence criterion, namely sustainable convergence.
Britain has laid down five conditions for joining, one of which is that there be "sustainable convergence" between the British and Continental European economies.
The European Council will then be in a position to take its decision as a function of the high degree of sustainable convergence that has been achieved.
Let me remind you that, according to the Treaty, the States participating in the euro will have to have achieved a high level of sustainable convergence.
We share your view on this particular point that the best possible preparation for adopting the euro is a high level of sustainable convergence, in accordance with the Maastricht criteria.
FDI hosts the annual sustainability scavenger hunt, Explorago, and the annual networking party, Sustainable Convergence.
Just to quote from Article 109j(1): ' The reports of the Commission and the EMI shall also examine the achievement of a high degree of sustainable convergence.'
The Commission believes that achieving a high degree of sustainable convergence, in accordance with the Treaty, is a necessary condition in order to make the adoption of the euro a success, both for the current members of the zone, and for future members.
