The ECB applies the criteria in the same way as in the past and we have always stressed that convergence should be sustainable. A consistent set of rules and a consistent application over time will reinforce the credibility of the process of euro area enlargement. This will, in turn, facilitate the sustainability of convergence.
The framework is flexible enough to accommodate the country-specific features of all countries that want to  4  BIS Review 114/2007  adopt the euro. I would also like to emphasise that meeting the convergence criteria in a sustainable manner before joining the euro area is in the interest of all parties concerned and above all for the candidate countries themselves.