| 单词 | convergence criteria |
| 释义 | convergence criteria A set of criteria which it is stipulated that a set of countries must satisfy for it to be practicable or desirable for them to adopt a common currency. Such criteria were laid down for European Monetary Union (EMU) by the Maastricht, Treaty of 1993. The criteria set limits to divergencies in inflation rates, and changes in exchange rates during the period leading up to union, and set maxima of 3 per cent for budget deficits and 60 per cent for the ratio of government debt to GNP. It is a matter of controversy whether satisfying these criteria is either necessary or sufficient for monetary union to work satisfactorily, and how many European countries are likely to satisfy them. |
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