The criteria established by the Maastricht Treaty (therefore sometimes referred to as the Maastricht criteria) that must be met to achieve membership of EMU. The decision to admit a country to EMU was taken by the European Council in May 1998 on the basis of convergence developments in 1997.1. The inflation rate will not exceed more than 1.5% of the average inflation rate of the three Member States with the lowest inflation rates.2. Public finances will not show a public deficit of more than 3% and the level of public debt will be kept below 60% of GDP.3Exchange rate stability will respect the fluctuation margins of the EMS exchange rate mechanism, at least for two years without devaluation of the national currency against the currency of another Member State.4. Long-term interest rates will not exceed the average interest rate of the three countries with the lowest inflation rates by more than two percent.