Copenhagen criteria (accession criteria)

What is Copenhagen criteria (accession criteria)?

Copenhagen criteria (accession criteria) definition and meaning on Finance terms:
The criteria defined by the Copenhagen European Council in June 1993 (and confirmed by the Madrid European Council in December 1995) that must be fulfilled by any country wishing to join the European Union. Included are political criteria (stable institutions guaranteeing democracy, the rule of law, human rights and respect for minorities), economic criteria (a functioning market economy) and the incorporation into national law of the acquis communautaire (the EU’s body of law). <