02:06 GMT +312 December 2017
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    Bulgaria Puts Off Euro Adoption

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    Bulgaria is in no hurry to adopt the euro and will not embark on the transition process for at least another couple of years, the country’s finance minister said on Friday.

    Bulgaria is in no hurry to adopt the euro and will not embark on the transition process for at least another couple of years, the country’s finance minister said on Friday.

    "We will not make any move toward the switchover in the next two years," Simeon Djankov was quoted by the Sofia news agency as saying.

    Bulgaria, which initially sought rapid accession to the euro zone, has taken a go-slow approach, as it has to meet several accession criteria, including currency stability, public-sector debt, interest rates and inflation.

    The country’s finance ministry recently said it has met the criteria, but was challenged by the European Central Bank.

    A currency board has been in place since an economic crisis in 1997 led to hyperinflation and the collapse of the national currency, the lev.

     

     

     

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