Bulgaria in EMU on 2025?

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ART
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Bulgaria in EMU on 2025?

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Bulgarian Finance Minister, Vladislav Goranov, said that the government is considering applying for entry in the monetary union before the end of Bulgarian presidency of the EU Council, i.e. by 30 June 2018. It would do by entering the Erm II (European exchange rate mechanism) that, barring accidents, would lead Bulgaria to join the EMU in 2021: the discussions are already underway, since all the other requirements already met.
Last edited by ART on Mon Apr 22, 2024 11:19 pm, edited 4 times in total.
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Re: Bulgaria in EMU?

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On 29 June the Bulgarian Minister of Finance and the Governor of the Bulgarian National Bank sent a letter to the Eurogroup to request entry into ERM II by July 2019 ( http://www.consilium.europa.eu/media/36 ... pation.pdf ). On 12 July the Eurogroup and the ECB published a statement on the steps necessary for Bulgaria to be accepted in the mechanism ( http://www.consilium.europa.eu/en/press ... ticipation / ).
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Re: Bulgaria in EMU?

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Since 10 July the Bulgarian currency has been admitted to ERM II. Bulgaria will keep the current fixed exchange rate system with the euro (1.95583 lev = 1 euro). According to the governor of the Bulgarian National Bank Dimitar Radev, Bulgaria will be ready to adopt the euro in 2023 or at the latest in 2024.
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Re: Bulgaria in EMU?

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According to recent declarations by the government of Bulgaria, the date that seems to consolidate for entry into the monetary union is 1 January 2024. The Coordination Council for the preparation of Bulgaria for joining the Eurozone, chaired by the Governor of the National Bulgarian Bank Dimitar Radev and the finance minister Asen Vassilev adopted on June 30 the draft national plan for the Euro introduction. It will be published shortly, and rumors suggest a swiftest possible changeover to the euro, with one month only of cashes parallel circulation.
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Re: Bulgaria in EMU on 2024?

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Bulgaria's hopes to join next January have been scrapped. A year later, perhaps:

https://www.reuters.com/markets/currenc ... 023-02-17/

Edit April18 - The Euro Area Wikipedia entry has been edited to reflect this new reality (it had not been at the time I made my original post):

https://en.wikipedia.org/wiki/Enlargeme ... largements
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Re: Bulgaria in EMU on 2025?

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Bulgaria has moved the goal of official join the monetary union from 1 January 2024 to 1 January 2025 but has already been in negotiations for a month with the European Commission for the parallel introduction of the euro as early as 2024. If the European Commission and the ECB will give a favorable opinion Bulgaria will be able to allow its citizens to choose whether to operate in euros or in lev, with double pricing of goods and free choice of currency with which to pay. The referendum called by the pro-Russian nationalist party Vazrazhdane to postpone entry into the euro until 2043 was rejected by the Bulgarian parliament.
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Re: Bulgaria in EMU on 2025

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Re: Bulgaria in EMU on 2025?

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