ISSN 2330-717X

Bulgaria Delays Adopting Euro

By

Bulgaria is in no hurry to adopt the euro and will not embark on the transition process for at least another couple of years, the country’s finance minister said on Friday.

“We will not make any move toward the switchover in the next two years,” Simeon Djankov was quoted by the Sofia news agency as saying.

Bulgaria, which initially sought rapid accession to the euro zone, has taken a go-slow approach, as it has to meet several accession criteria, including currency stability, public-sector debt, interest rates and inflation.

The country’s finance ministry recently said it has met the criteria, but was challenged by the European Central Bank.

A currency board has been in place since an economic crisis in 1997 led to hyperinflation and the collapse of the national currency, the lev.

Click here to have Eurasia Review's newsletter delivered via RSS, as an email newsletter, via mobile or on your personal news page.

Ria Novosti

RIA Novosti was Russia's leading news agency in terms of multimedia technologies, website audience reach and quoting by the Russian media.

2 thoughts on “Bulgaria Delays Adopting Euro

  • July 13, 2012 at 8:13 pm
    Permalink

    Given the current state of affairs in Southern Europe, and any reasonable analysis of the future — that Bulgaria would freely want to join the Euro Zone is insane, pure madness.

    Reply
  • July 14, 2012 at 11:56 am
    Permalink

    Combine Greece and Bulgaria in the eurozone and you have the fall of EU.
    EU must be carefull who enters the club,because the politicians of these two states are the cause of troubles in the Balkans.
    They are the best of the best fabricators of history as well as financial books!

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *