Does the ECB have any say in the process of EMU enlargement?
The ECB as well as the European Commission will both prepare convergence reports, either every two years, or at the request of a Member State with a derogation. These reports provide the basis for the EU Council’s decision on whether the Member State concerned fulfils the necessary conditions for adoption of the euro. All ECB convergence reports are available in the Publications section on this website. In addition to its role in the context of the convergence exercise, the ECB also cooperates with the national central banks of the new EU members to facilitate their smooth integration into the operational framework of the Eurosystem.
