Bulgaria might delay entry into ERM-II by several months - Dombrovskis

Bulgaria might delay entry into ERM-II by several months - Dombrovskis

Bulgaria is preparing to enter the Exchange Rate Mechanism II (ERM II), the mandatory precursor to Eurozone membership, but the initial target date of April might be postponed by a few months, European Commission executive vice president Valdis Dombrovskis said.In an interview for public radio BNR on Thursday Dombrovskis said that Bulgaria's finance minister Vladislav Goranov had assured him that the country is progressing well in delivering on the commitments it made before the European Commission and the European Central Bank as part of its plan to adopt the euro but the target date might be delayed by a few months.Dombrovskis also said that as far as he knew, everything is going according to plan and he sees no reason for a delay.Bulgaria will also be allowed to keep its currency pegged to the euro at a rate of 1.95583 levs per 1 euro until the country joins the Eurozone,  Dombrovskis stressed.Earlier this week, Bulgaria's prime ministry Boyko Borissov said that the government will slow down the tempo of progress towards entering ERM II until a national consensus on the matter is reached.
 
Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.