Bulgaria says it will start talks to join the euro

Bulgaria's finance minister Vladislav Goranov announced on 15 January that the country would soon begin talks on adopting the euro. Mr Goranov added that Bulgaria might join the preliminary exchange-rate mechanism for eurozone entry by the end of 2018.

The minister said there was a political consensus to adopt the single currency in the country, which has pegged its lev currency to the euro since 1997. Analysts and bankers urged the centre-right government to undertake steps to join the eurozone to boost confidence in the banking sector's supervision, shattered after the collapse of the country's fourth-largest lender in 2014 [click here for more information on this subject].

• Primary Source

ESO: Background information: Bulgaria shelves euro membership plans http://www.europeansources.info/record/bulgaria-shelves-euro-membership-plans/

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