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Bulgaria plans to adopt the euro and become the 21st member state of the eurozone. The Bulgarian lev has been on a currency board since 1997, with a fixed exchange rate initially against the Deutsche Mark and subsequently its replacement the euro. Bulgaria's target date for introduction of the euro was 1 January 2025.
Denmark is the only EU member state which has been granted an exemption from using the euro. [1] Czechia, Hungary, Poland, Romania and Sweden have not adopted the Euro either, although unlike Denmark, they have not formally opted out; instead, they fail to meet the ERM II (Exchange Rate Mechanism) which results in the non-use of the Euro.
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 ...
Government policy on euro adoption Convergence criteria compliance [21] (as of June 2024) Notes Bulgaria: Lev (BGN) 1.95583 [nb 1] 2007-01-01 2020-07-10 Euro adoption on 1 July 2025 [22] Compliant with 4 out of 5 criteria (all except inflation) [23] The Bulgarian government expects to be in compliance with all criteria by the end of 2024 [23 ...
In September 2011, a diplomatic source close to the euro adoption preparation talks with the seven remaining new member states who had yet to adopt the euro at that time (Bulgaria, the Czech Republic, Hungary, Latvia, Lithuania, Poland, and Romania), claimed that the monetary union (eurozone) they had thought they were going to join upon their ...
Gareth Southgate’s England team will be there once again but there’s all to play for in many other groups
If Bulgaria follows the standard path to euro adoption, it would use the euro two years after joining the European exchange rate mechanism (ERM II) (a formality given the lev's peg to the euro). In late 2010, given Bulgaria's improving economy, analysts thought that Bulgaria would join the ERM II the following year. [21] However, the continued ...
Bulgaria last week introduced the new energy tax on Russian natural gas transfers through its territory. It believes the tax will reduce the privileged position of Russia’s state-owned energy ...