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The date of accession, 1 January 2007, was set at the Thessaloniki Summit in 2003 and confirmed in Brussels on 18 June 2004. Bulgaria, Romania and the EU-25 signed the Treaty of Accession on 25 April 2005 at Luxembourg's Neumuenster Abbey. The 26 September 2006 monitoring report of the European Commission confirmed the entry date as 1 January ...
A 2008 analysis said that Bulgaria would not be able to join the eurozone earlier than 2015 due to the high inflation and the repercussions of the 2007–2008 global financial crisis. [12] Some members of Bulgarian government, notably economy minister Petar Dimitrov, speculated about unilaterally introducing the euro, which was not well-met by ...
The enlargement of the eurozone is an ongoing process within the European Union (EU).All member states of the European Union, except Denmark which negotiated an opt-out from the provisions, are obliged to adopt the euro as their sole currency once they meet the criteria, which include: complying with the debt and deficit criteria outlined by the Stability and Growth Pact, keeping inflation and ...
1 January – Bulgaria and Romania join the European Union. [1] 1 January – Slovenia adopts the Euro as its official currency, replacing the tolar. [2] 1 January – Irish becomes the 23rd official language of the EU. [3] 1 January – Germany takes over the EU Presidency. [4]
Non-eurozone member state Currency Central rate per €1 [1] EU join date ERM II join date [1] Government policy on euro adoption Convergence criteria compliance [17] (as of June 2024) Notes Bulgaria: Lev (BGN) 1.95583 [note 1] 2007-01-01 2020-07-10 Euro adoption on 1 July 2025 [5] Compliant with 4 out of 5 criteria (all except inflation) [6]
Since the financial crisis of 2007–2008, the eurozone has established and used provisions for granting emergency loans to member states in return for enacting economic reforms. [15] The eurozone has also enacted some limited fiscal integration; for example, in peer review of each other's national budgets. The issue is political and in a state ...
The Bulgarian Cyrillic alphabet features on the Europa series banknotes, as a result of Bulgaria joining the European Union in 2007. Thus this series includes " ЕВРО ", which is the Bulgarian spelling for EURO, as well as the abbreviation " ЕЦБ " (short for Европейска централна банка in Bulgarian ), [ 91 ] while ...
Eurozone since 2015. Schengen Area ... European Parliament elections were held in Bulgaria on 20 May 2007. It was the country's first European election, having joined ...