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
European Union climate and energy package European Union climate and energy package The European plan on climate change consists of a range of measures adopted by the members of the European Union to fight against climate change. The plan was launched in March 2007, and after months of tough negotiations between the member countries, it was adopted by the European Parliament on December 2008. The package focuses on emissions cuts, renewables and energy efficiency. 10 January 2007: The European Commission presented a series of proposals setting ambitious targets of greenhouse gases reduction. It announced the EU would commit itself to reducing emissions of developed countries by