At the same time, the mechanism allows for a degree of flexibility, if needed, through the wide standard fluctuation band and the possibility of adjusting the central parity. Eventually, the countries are expected to join the euro area.
Their readiness to adopt the euro will be examined on the basis of a deep and precise analysis of their performance with respect to the Maastricht convergence criteria. This examination will be done in the so-called Convergence Reports, which are regularly prepared by both the European Commission and the ECB.