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 enlargement of the European Union October 2009. He was nominated in 2006 by the previous Romanian Prime Minister Călin Popescu-Tăriceanu. Both were approved by Parliament to become Commissioners upon accession. Upon accession Bulgaria's 18 and Romania's 35 observer MEPs became full voting representatives until each state held an election for the posts, which were mandated to happen before the end of the year. Bulgaria held its election on 20 May 2007 and Romania on 25 November 2007. 2007 enlargement of the European Union The 2007 enlargement of the European Union saw Bulgaria and Romania join the European Union (EU) on 1 January 2007. Together with