Bulgaria Can Unfreeze Euro Zone Application if Currency Area Makes Further Progress – Fin Min

Bulgaria Can Unfreeze Euro Zone Application if Currency Area Makes Further Progress – Fin Min

Bulgaria can join the euro zone within five years if the currency block makes further progress, finance minister Simeon Dyankov said.

 "Bulgaria's place is unquestionably inside the single currency", Dyankov said in an interview for The Times on Tuesday.

 He pointed out the need for progress on mechanisms such as the banking union and reforms to address the region's lack of competitiveness as issues Bulgaria will consider when deciding whether to apply for the euro zone.

 According to Dyankov, Bulgaria is very concerned about France's suggestions that there should be a common tax policy as the Southeast European country remains determined to defend its ultra-low tax regime.

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