The principle of equal treatment will continue to apply throughout the entire process of monetary integration. Adopting the euro is an irrevocable decision and it is of the utmost importance that countries fulfil the convergence criteria in a sustainable manner, as required by the Maastricht Treaty. There will be no additional criteria but neither will there be a relaxation of the criteria.
The Governing Council of the ECB published a policy position paper on exchange rate issues relating to the acceding countries on 18 December 2003. This document consolidates into a single comprehensive policy text the previous positions of the Eurosystem on the matter.