Financial Times FT.com

ECB warns on eurozone hopefuls

By Ralph Atkins in Frankfurt and George Parker in Brussels

Published: December 5 2006 18:57 | Last updated: December 5 2006 18:57

European countries supposedly aiming to join the euro currency bloc were warned on Tuesday that they had to increase efforts to meet the membership criteria.

Progress reports issued by the European Central Bank and European Commission highlighted the patchy performance by nine countries formally committed to joining the euro. “Many of the countries under review have made progress with economic convergence, but in some countries there have also been setbacks,” concluded the ECB.

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