CELEX: 11992M/PRO/CC/03
Language: en
Date: 1992-02-07 00:00:00
Title: Treaty on European Union - Protocol on the convergence criteria referred to in Article 109 J.of the Treaty establishing the European Community - Article 3

Avis juridique important

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11992M/PRO/CC/03

Treaty on European Union - Protocol on the convergence criteria referred to in Article 109 J.of the Treaty establishing the European Community - Article 3  

Official Journal C 191 , 29/07/1992 P. 0085

 Article 3  The criterion on participation in the Exchange Rate  Mechanism of the European Monetary System referred to in the third indent of Article 109j(1) of this Treaty shall mean that a Member State has respected the normal fluctuation margins provided for by the Exchange Rate Mechanism of the European Monetary System without severe tensions for at least the last two years before the examination. In particular, the Member State shall not have devalued its currency's bilateral central rate against any other Member State's currency on its own initiative for the same period.