EU Member States prepare annual stability or convergence programmes under the terms of the Stability and Growth Pact (SGP). Member States, such as Ireland, which have adopted the euro prepare stability programmes, while those not having adopted it prepare convergence programmes.

On a recommendation from the European Commission, and after consulting the EU Economic and Financial Committee, the Council of Economic and Finance Ministers (ECOFIN) delivers an opinion on each programme annually.

More details on this subject can be obtained from the website of the European Commission.