Today the European Commission released its 2018 Convergence Report: Review of Member States' progress towards euro adoption.
The report covers Bulgaria, the Czech Republic, Croatia, Hungary, Poland, Romania and Sweden. The document reads that these countries have achieved significant nominal convergence, but none of them currently meet all the formal conditions for joining the euro area. Two of these Member States, Bulgaria and Croatia, fulfill all of the convergence criteria, except for the exchange rate criterion as they are not members of the Exchange Rate Mechanism (ERM II), the EC report reads.
“Bulgaria already fulfills the nominal Maastricht criteria related to price stability, public finances and convergence of long-term interest rates. We welcome the Bulgarian authorities current work towards Exchange Rate Mechanism (ERM II) participation to meet also the exchange rate stability criteria,” Valdis Dombrovskis, Vice-President for the Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union, said.
President Rumen Radev intends to refer the matter to the Constitutional Court. But this will not affect the expected report from the European Commission on the country's readiness to join the eurozone, the Speaker of the National Assembly Natalia..
The normal movement of buses, trolleybuses and trams in Sofia is being restored as of today, after last night the unions announced an end to the 6-day blockade of public transport. The blockade of Sofia's public transport to be lifted on Tuesday..
Bulgaria's Head of State Rumen Radev has officially invited Romania's new President Nikusor Dan to visit Bulgaria , the Bulgarian President's press office announced. Rumen Radev congratulates winner of Romanian presidential election Nicusor Dan..
We are helping North Macedonia and Serbia because of the breakdowns in their energy systems, Bulgaria’s Minister of Energy Zhecho Stankov announced at..
On Monday, the lowest temperatures will range between 5°C and 10°C, around 5°C in Sofia. It will be mostly sunny in the morning, but around and after..
Public transport in Sofia will resume as of Tuesday, May 20, Todor Kapitanov, Vice President of the Confederation of Independent Trade Unions in Bulgaria..
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