Criteria |
Explanation |
Inflation |
Inflation, as measured by a comparable CPI, may not exceed by more than 1.5% the level "in the three best performing states in terms of price stability." |
Long Term Interest Rates | Interest Rates may not exceed by more than 2% the level "in the three best performing states in terms of price stability." |
Government Budget Deficit | The budget deficit may not exceed 3.0% of gross domestic product (GDP), or should be falling substantially, or be only temporarily above, though still close to, this level. |
Gross Government Debt | Total government debt may not exceed 60% of GDP, or must show a satisfactory reduction towards this figure. |
Exchange Rates | Mandatory membership in the European Monetary System (EMS) of at least 2 years; currency must have moved for at least two years within the normal fluctuation margins (15%.) |