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
2007 European Parliament election in Romania observers served as full MEPs. The breakdown of parties and their European groupings was as follows: The next election will be in 2009 and the number of seats will be reduced to 33. 2007 European Parliament election in Romania Romania elected its members of the European Parliament for the first time on 25 November 2007; the election was initially scheduled for 13 May, but the PM postponed it for domestic political reasons. A referendum on a new voting system was held on the same day. Romania joined the European Union on 1 January 2007, and was initially represented in the