Bulgarian official representatives are on a visit to the European Central Bank and the European Commission for a detailed discussion of the procedures and time schedule for Bulgaria’s accession to the Banking Union and ERM-2. On Tuesday, Finance Minister Vladislav Goranov announced that Bulgaria would run simultaneously for accession to the so-called Eurozone waiting room and the European Banking Union. Until recently the position of the Bulgarian government was that a priority should be given to ERM-2 accession that should be followed by accession to the Banking Union. In practice however, the country has been left with no choice. Membership of the Banking Union of the Eurozone implies that the European Central Bank will carry out supervision of large banks in the country and do the decision-making for banks in trouble.
According to Goranov, the simultaneous membership of ERM-2 and the Banking Union is a big challenge. "There is no other country which has traveled this path. There are many unclear things regarding procedures and time frame,” the finance minister pointed out.
Caretaker Deputy Prime Minister and Finance Minister Lyudmila Petkova, Vice President of the European Commission Valdis Dombrovskis and European Commissioner for Economy Paolo Gentiloni signed, in Luxemburg, a partnership agreement between the..
The country's GDP stands at 64% of the European average. Unlike Romania, we have not yet crossed the 70% threshold. What distinguishes Bulgaria from other countries in the region is that they have higher levels of investment, better rule of law, and..
Bulgaria is among the largest producers of lavender oil in the world. Nearly 100% of it is export-oriented. The highest demand is in the USA, Germany, France, Austria, The Netherlands, India, Great Britain, Spain, Canada, Marocco,..
The Organisation for Economic Co-operation and Development (OECD) forecasts an acceleration in Bulgaria's economic growth from 1.8% in 2023 to 2.5% in..
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