9 hours agoEC gives Bulgaria green light for euro
Periskopi(a year ago)
(a year ago)The European Commission has given Bulgaria the green light to join the eurozone on 1 January 2026, marking the second important step of the state within a year on the road towards full integration into the European Union. The EC, which met on June 4th to make a decision on the issue, [...]
The EC, which met on 4 June to make a decision on the issue, said Bulgaria meets the four nominal convergence criteria used to assess whether a country is willing to adopt the euro.
“Europa is a tangible symbol of European force and unity”, European Commission President Ursula von der Leenen said, conveys Periscope.
The European Central Bank is also expected to publish its opinion on 4 June, and Bulgarian officials have said they expect a positive assessment from the institution as well.
The European Union Council will make the final decision on Bulgaria's accession to the eurozone, based on the opinions of the EC and the European Central Bank, as well as on discussions with the Eurogroup and the European Council.
Although the adoption of the euro was one of the conditions for EU membership, legislative failures included reforms fighting money laundering, concerns about inflation and political blockades (Bulgaria has maintained seven election processes in the past four years) have made this journey difficult for Sofia.
A decision in favour of adopting the euro is Bulgaria's second major step within a year on the path of the state towards EU integration.
In January, Sofia became full-fledged members of the Schengen zone and Bulgaria's borders with Greece and Romania are now fully open. / REL/
