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News: Bulgaria>> Bulgaria going to apply to the ERM-2

News and Articles related to Bulgaria
Current date: 2010-02-09 11:31

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Bulgaria going to apply to the ERM-2

Finances: Thursday, 2009-11-12 10:00
Article by: Bloomberg

Bulgaria will apply early next year to join the exchange-rate mechanism, the two-year currency stability test prior to euro adoption, and seek to switch to the common currency in 2013, Finance Minister Simeon Dyankov said.

"We are going to apply to the ERM-2 as soon as possible, within a few months," Dyankov said in an interview in Brussels.
"To do that, we need to show Europe and the world that we can have the best fiscal discipline, the best fiscal outcome for 2009 in all of the European Union."

Joining the ERM would bring Bulgaria (the poorest country in the EU) closer to the euro region and the protection of the European Central Bank.

Scope: Bulgaria

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