Transition economy to the IMF, Iran is in transition to a market economy, demonstrating early stages of a transition economy. The eight first-wave accession countries, which joined the European Union on 1 May 2004 (Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, Slovenia) and the two second-wave accession countries that joined on 1 January 2007 (Romania and Bulgaria) have completed the transition process. According to the World Bank, "the transition is over" for the 10 countries that joined the EU in 2004 and 2007. It can be also understood as all countries of the Eastern Bloc. "Transition economics" is a special branch
2004 enlargement of the European Union European Union, while the northern occupied area is recognised only by Turkey. Cyprus began talks to join the EU, which provided impetus to solve the dispute. With the agreement of the Annan Plan for Cyprus, it was hoped that the two countries would join the EU together as a single "United Cyprus Republic". Turkish Cypriots supported the plan. However, in a referendum on 24 April 2004 the Greek Cypriots rejected the plan. Thus, a week later, the Republic of Cyprus joined the EU with political issues unresolved. Legally, as the northern republic is not recognised by the EU, the entire