Bulgaria Confirms Intention to Apply for ERM 2 Entry by End-June - Fin Min
Bulgaria confirms its intention to apply by the end of June to enter the Exchange Rate Mechanism (ERM II), the system set up by the EU to prepare non-euro member states for joining the Eurozone, finance minister Vladislav Goranov said on Friday."We are in intensive communication at expert level with representatives of the European Central Bank, countries that are members of the Eurozone, and the European Commission," Goranov told public radio BNR."We are working on a road map, and we will soon complete this process," he added.Bulgaria's central bank governor Dimitar Radev said last week that the process of euro area accession, starting with the participation of the national currency in the ERM II, will be a catalyst for further improvements, adjustments and reforms in Bulgaria.