Between 1832 and 2002 the currency of Greece was the drachma. After signing the Maastricht Treaty, Greece applied to join the eurozone. The two main convergence criteria were a maximum budget deficit of 3% of GDP and a declining public debt if it stood above 60% of GDP. Greece met the criteria as shown in its 1999 annual public account. On 1 January 2001, Greece joined the eurozone, with the adoption of the euro at the fixed exchange rate ₯340.75 to €1. However, in 2001 the euro only existed electronically, so the physical exchange from drachma to euro only took place on 1 January 2002. This was followed by a ten-year period for eligible exchange of drachma to euro, which ended on 1 March 2012.
Between 1832 and 2002 the currency of Greece was the drachma . After signing the Maastricht Treaty , Greece applied to join the eurozone . The two main convergence criteria were a maximum budget deficit of 3 % of GDP and a declining public debt if it stood above 60 % of GDP . Greece met the criteria as shown in its 1999 annual public account . On 1 January 2001 , Greece joined the eurozone , with the adoption of the euro at the fixed exchange rate ₯340.75 to € 1 . However , in 2001 the euro only existed electronically , so the physical exchange from drachma to euro only took place on 1 January 2002 . This was followed by a ten - year period for eligible exchange of drachma to euro , which ended on 1 March 2012 .
How many convergence criteria were there in the treaty?
How many convergence criteria were there in the treaty ?
two
two