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On 16 May 2006, the European Commission concluded that Slovenia has achieved a high degree of sustainable economic convergence with the other Member States and that it fulfils the necessary conditions to adopt the euro. On the basis of its Convergence Report, the Commission is proposing to the Council that Slovenia adopts the euro on 1 January 2007. The final decision will be taken by EU finance ministers in July, after consultation of the European Parliament, and following a discussion by the Heads of State or Government at their summit in June. In its so-called Convergence Report, the Commission assesses whether Slovenia has achieved a high degree of sustainable convergence, measured against the criteria set out in Article 121(1) regarding the government budgetary position, price stability, exchange rate stability and convergence of long-term interest rates. Compatibility of the legal framework with the Treaty is also examined. The ECB also issued a Convergence Report on the same day as envisaged by the Treaty. On 16 May 2006, the European Commission assessed, at the request of the Lithuanian authorities, whether Lithuania is ready to adopt the euro and concluded that, at the present stage, there should be no change in its status as an EU Member State with a derogation. In its so-called Convergence Report, the Commission assesses whether Lithuania has achieved a high degree of sustainable convergence, measured against the criteria set out in Article 121(1) regarding the government budgetary position, price stability, exchange rate stability and convergence of long-term interest rates. Compatibility of the legal framework with the Treaty is also examined. The ECB also issued a Convergence Report on the same day as envisaged by the Treaty.