•  Finally, in the steady state, 4 new member countries are expected to become member of the second group while many of the remaining countries will gradually move from the third to the second group as real convergence, or "catching up" in plain English, progresses.
All countries within the euro area will be able to participate in TARGET. EU member countries outside the euro area will likewise be able to participate in TARGET provided their national RTGS systems are able to handle the euro as a foreign currency in addition to handling their respective national currency.