While it is undoubtedly a difficult task, compliance with this criterion is an essential step towards integrating into the Single Market and, in this way, towards creating a solid basis for future noninflationary growth. *** 2.
In the second phase of the aforementioned three-stage process - starting immediately upon accession into the EU - the new entrants will, as far as EMU is concerned, have the status of "Member  2  BIS Review 3/2001  States with a derogation". No "opt-out" clauses will be available for the future new members.