EC President praises Bulgaria on financial stability, backs ERM II entry

EC President praises Bulgaria on financial stability, backs ERM II entry

The European Union encourages Bulgaria's government to pursue its goal of joining the exchange rate mechanism (ERM II), European Council President Herman van Rompuy said at a news conference held together with Bulgaria's prime minister Boiko Borissov in Sofia.

Data on the country's budget deficit and balance of payments speaks of the country's considerable progress and Bulgaria will receive the support of euro zone member states to enter the mechanism, he added.

Rompuy also said he had received information about the "impressive efforts" of the government to meet the criteria for gaining access to the Schengen area.

The admission of Bulgaria and Romania to the passport-free zone continues to be a priority for the Hungarian government, provided that the states complied with all requirements, he said.

In turn, Borissov stated Bulgaria's accession to Schengen area will encourage the state to protect even more actively its borders and Europe's security. (source : Dnevnik)

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