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
Motto of the European Union the 15 countries of the European Union (a.k.a. "EU-15"): Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, Sweden & United Kingdom. In April 1998, French newspaper "Ouest-France"’s Patrick La Prairie proposed the organisation of a European mottoes contest for the, then 15, EU members' secondary education students. This event was meant as a 50-year celebration of Founding father of the European Union Robert Schuman's famous declaration about a supranational Community which eventually led to the creation of the actual European Union. Back in 1998, the European Union had already a flag of Europe, and anthem