Thus, no single path towards ERM II and the adoption of the euro can be identified and recommended. Rather, a case-by-case approach - based on the principle of equal treatment - will be followed, in line with the stipulations laid down in the Treaty. This includes the criteria concerning the sustainability of nominal convergence, better known as the “Maastricht criteria”.
There will be no additional criteria but there will be no relaxation of the criteria either. We are aware that the road to the euro will be demanding, with participation in ERM II being only one element of the overall policy framework in the process towards full monetary integration.