Report from the Commission (prepared in accordance with Article 140(1) of the Treaty on the functioning of the European Union). Convergence report 2012.

Abstract

Article 140(1) of the Treaty on the Functioning of the European Union (hereafter TFEU) requires the Commission and the ECB to report to the Council, at least once every two years, or at the request of a Member State with a derogation1, on the progress made by the Member States in fulfilling their obligations regarding the achievement of economic and monetary union. The latest Commission and ECB Convergence Reports were adopted in May 2010.