Countries Confirmed for the Euro
The eleven countries that will join the third stage of economic and monetary union (EMU) are: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain. These Member States meet the agreed criteria for participation in the single currency on 1 January 1999, the Council agreed. Greece and Sweden do not yet meet the necessary conditions. The UK does not intend to move to the third stage of EMU at its start, and Denmark does not plan to join. The Council concluded that all Member States, except Greece, do not have an excessive government deficit.