The Earliest Date for Bulgaria's Entry into the Euro Zone is 2022

Politics » BULGARIA IN EU | January 8, 2019, Tuesday // 15:19
Bulgaria: The Earliest Date for Bulgaria's Entry into the Euro Zone is 2022

Bulgaria could join the Eurozone in early 2022, said European Commission Vice President for Eurozone and Social Dialogue and Financial Stability, Financial Services and Capital Markets Valdis Dombrovskis told a reporter at the Bulgarian National Radio, quoted by Dnevnik.

If Bulgaria has done its best to fulfill its commitments, it will receive the green light for entry into the ERM II exchange mechanism in the summer of this year, he added.

"If everything goes wrong with the review of assets in Bulgaria's banking system, the country can join ERM II in the middle of this year, then it must be at least three years to reach the euro and to meet the Maastricht criteria, and next year to assess the results achieved and preparatory work, "he said.

A EU Citizens' Dialogue session is held in the Latvian capital.

Bulgaria has officially announced its wish to join ERM II (also called the Eurozone waiting room) and the bank union in the summer of 2018 and expects to join both form in July. The country is currently following a roadmap to meet the conditions of the currency union countries, which include a new review of the banking system and changes in the legislation for the BNB.

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