“Bulgaria is beginning close cooperation with the European Central Bank on synchronizing legislation and banking supervision for entering the ERM II mechanism,” announced at a briefing Finance Minister Vladislav Goranov.

After being given a government mandate to submit an application for membership of the European Banking Union, Minister Goranov stated that there is accord with the Eurozone countries that Bulgaria should be admitted to ERM II simultaneously with its admission to the Banking Union. Vladislav Goranov said he expected admission to ERM II to take place in mid-2019 after Bulgaria meets the commitments it has assumed.