“Sorry Teacher” - All 7 Euro candidate countries fail their entrance exam - again

EU report card shows Euro numbers will not grow any time soon

Most candidate countries received marks of 40% or less, one of the seven got 0%

Yesterday in Brussels the European Commission published its 2020 Euro Convergence Report in which it provides its two-yearly assessment of the progress non-euro area Member States have made towards adopting the euro.

Sweden and all other non-euro EU member states have just failed their latest exam. Seven countries are legally obliged to join the euro, but it seems the rush to comply with the joining criteria has not been overwhelming - once again.

EXCLUSIVE : Brexit Facts4EU.Org’s analysis and table shows just how bad things are

The EU's report does NOT start well for the EU. It’s opening sentence is:
“The euro is MEANT to be the single currency of the European Union as a whole.”
(Our emphasis)

NOTE: All criteria relate to the two year period 2018-2019, so Coronavirus cannot be blamed

The report covers the seven non-euro area Member States which are legally committed to adopting the euro: Bulgaria, Czech Republic, Croatia, Hungary, Poland, Romania and Sweden.

The EU’s report is based on the convergence criteria, sometimes referred to as the ‘Maastricht criteria', set out in article 140(1) of the Treaty on the Functioning of the European Union. The criteria include price stability, sound public finances, exchange rate stability and convergence in long-term interest rates. The compatibility of national legislation with the rules of the Economic and Monetary Union is also tested.

Brexit Facts4EU.Org Summary

All seven non-Euro EU countries fail their Euro entrance exam - yet again

Candidate countries are marked In five subjects
They must pass in all five, and are under a legal obligation to do so
Not one country passed in all five subjects
One country (Romania) failed every exam
Even rich and successful Sweden only got a 60% average

The EU Commission puts a brave face on the results

Valdis Dombrovskis is an EU Commissioner. He is also EU Executive Vice-President for ‘an Economy that Works for People’. On Wednesday he said:

“Today's convergence report shows encouraging progress by some countries, although there are still several milestones to pass before they can join the euro area.”

Mr Dombrovskis is a Latvian politician. He's the EU Commissioner for the EU's economy. He has no commercial experience. This is normal in the EU Commission.

The EU Commission was also forced to admit that in addition to the main criteria, some of the countries :

“show macroeconomic vulnerabilities and/or face challenges related to their business environment and institutional framework.”

Observations

This has been dragging on forever. Every two years the EU Commission pop up with their Euro Convergence Report, and every two years the ECB (‘European’ Central Bank) pop up with theirs. We have read both reports and there’s nothing startlingly-different in the ECB’s, in case any readers wondered.

The simple fact is that there isn’t the remotest chance of another EU Member State joining the euro before the next convergence report comes out in June 2022. Indeed many would say that privately some governments of candidate countries are perfectly happy about this.

BREXIT - and why Monsieur Barnier should stop preaching to the UK

TOMORROW : Don't miss our very revealing report on the hypocrisy of Monsieur Barnier and the EU.

The article will be available here and we will show - with evidence - why Michel Barnier might want to retract some of his threats against David Frost and the British Government.

Unique, original, and not to be missed! Now please read on...

The very slow death of the euro…?

In recent years the poor health of the euro has been such that its demise has been predicted with increasing regularity in the financial pages of the broadsheets. Perhaps ironically, Brexit Facts4EU.Org has never predicted the demise of the euro, despite all the economic indicators.

Our view has always been that the euro was in effect a giant macroeconomic con-trick perpetrated on the peoples of the EU by extreme EU-federalists in pursuit of a purely political and ideological goal. That goal is of course the unification of all EU countries into one ganglious superstate.

Still, at least Lithuania joined...

The last country to join the euro was the economic powerhouse of Lithuania. This was agreed between Lithuania and the EU back in 2014, six years ago. Lithuania’s economy is 1/53^rd of the size of the UK economy. It’s GDP is 0.4% of the whole Eurozone economy.

Must have been a load off for the EU’s bankers, when Lithuania joined the euro…..

Why do we continue to report on something like this?

We live in a world where the British Establishment continues to be anti-Brexit. Only this week we read two articles from the CBI insisting that Brexit should be delayed for at least two years. These appeals made it into the Remainer press, naturally.

In the BBC we have a state-funded broadcaster that only ever seems to want to publish negative stories about the United Kingdom, and positive stories about the EU.

We feel there is still a place for publicising some of the most appalling news coming out of Brussels, and reminding people why they voted to leave this sclerotic union. We also feel that more and more ordinary people who voted to remain have now recognised just what an evil empire the EU has become. They have witnessed the dreadful treatment of our country akin to an attemped punishment beating, which the EU is trying to dish out to the UK.

If you support freedom of speech and the fight for a fully-free and independent United Kingdom as soon as possible, please support our work with a donation today. We only survive thanks to the generosity of some ordinary readers, and to be honest very few actually donate, compared to the numbers who read our work each week.

Whatever you can give, we will be most grateful and you will receive a personal ‘thank you’ email from one of our team. Please help us today if you can. Thank you so much.

[ Sources: EU Commission | ‘European’ Central Bank (ECB) ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, Sat 13 June 2020

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Reader Comments 32

11. Concerned , Saturday, June 13, 2020, 12:57:

9 Patricia, I would not hold my breath waiting for the 'change their whole attitude to everything' - don't forget they are part of the problem. Socialist, communists, liberals, greens and other lefties - they never learn only how to feather their own nests to the detriment of everyone else. Then they are in heaven. Their socialist dream modelled on the old soviet system was doomed to fail and that failure cannot come quick enough for all normally adjusted people with a modicum of common sense.

12. Gavin L , Saturday, June 13, 2020, 16:41:

They only want us for our money.

13. Steve H , Saturday, June 13, 2020, 22:40:

This article is simply false.
No member state or future member state is obliged to adopt the Euro.
Since 1999, all members are encouraged to adopt the Euro but there is no mechanism to legally enforce this. Just like the UK and Sweden, countries are able to opt out of joining the Euro. Sweden had a referendum where the public voted against joining and so that is that. - Sweden are NOT required to join the Euro area.
Also, what is wrong with insisting on strict criteria as a condition of joining the single currency? Hopefully the lesson of Greece has been learned and the Eurozone must be absolutely confident that joining the Euro is both in the interests of the member state concerned and the EU as a whole?
For the record, and as a staunch remainer, I was never in favour of UK adopting the Euro. Despite many advantages to the single currency, for me, I thought it was in the UK's interests not to on that particular aspect of EU membership. There is and was absolutely no question of any country being forced to adopt it as a condition of membership.
A little light research outside the propaganda of this rag would tell you that.

14. Steve H , Saturday, June 13, 2020, 23:05:

By the way, on a different topic - Why is there no article on this site furious that our government has decided that there will be few border checks on imports coming in from the EU from January (basically keeping it as it is now, so that the EU can continue to gain full and unrestricted access to the UK market), but there will be full border checks on our exports to the EU? (making it far harder for our companies to sell to the EU market?) So much for we hold all the cards eh!? You simply couldn't make this up!

15. JonL , Sunday, June 14, 2020, 03:35:

On the topic of border checks, their function is to check for safety, not to allow exports to be excluded as a form of non-tariff barrier. Exporting to the EU from the UK depends on a company in the UK winning a contract from a company in the Eu which wishes to import UK goods or services. It does not depend on the whims of a border agent whose job is to check for safety issues, phyto-sanitary issues, conformity to manifests, and so on.
The notion that EU border checks would allow some low-level customs agent to decide to forbid Airbus, for example, to import a Rolls-Royce aero-engine is, forgive me, a bit infantile.
A little less frothing would be a very good idea, especially if you are sternly advising other posters to do research into the topic. You do not have to prove to us what remainers are like; we know that already.

16. Hazel I , Sunday, June 14, 2020, 06:45:

Doesn’t Sturgeon think that Scotland can join at any time?

17. Rolf B , Sunday, June 14, 2020, 07:12:

There is an easy solution.bend the rules until it fits. same as with Italy and Greece joining the euro.happened because Europe was and still is on the super state trip and not telling the common public

18. Wishmaster , Sunday, June 14, 2020, 07:21:

They would have let them join previously, no doubt about it. But with UK and it’s contributions no longer in the EU, they can’t afford to have more member states holding their hands out for money.

19. Derek P, Warks , Sunday, June 14, 2020, 07:34:

To Steve H, comment 13, I realise you're a remoaner but are you also a total moron? You say "This article is simply false. No member state or future member state is obliged to adopt the Euro."
Patently false as you would know if you did the tiniest bit of research. Facts4eu are right, and you're the one who is propagating false progaganda. Do you have any idea of how stupid you sound? Sorry but I've tolerated your nonsense in the comments section of this site for long enough. Post again when you know what you're talking about. Until then spare us, please.

20. Major Icewater , Sunday, June 14, 2020, 07:46:

They'll still let them join as many current members has failed.
The EU is about power and lebensraum.

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