Olan McEvoy
Research expert covering the European Union for society, economy, and politics.
Get in touch with us nowAs of 2022, all candidate countries and potential candidates for membership in the European Union had a higher annual inflation rate than the EU as a whole, except for Albania. The convergence of economic conditions towards that of the rest of the European Union is an important part of the Copenhagen Criteria - the political, economic, and institutional conditions which must be satisfied for a country to enter the European Union. Fulfilling the economic criteria for entry into the EU is supposed to guarantee that a new member state has a functioning market economy which can handle the economic pressures of competition in the European Single Market.
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