Finance Minister Temenuzhka Petkova and BNB Governor Dimitar Radev signed a joint letter containing a request for the preparation of emergency convergence reports on the introduction of the euro and sent it to European Commission President Ursula von der Leyen and European Central Bank President Christine Lagarde.
The letter was prepared and sent in accordance with the decision of the National Assembly of 26 July 2024 to accelerate and complete the process of preparation for the adoption of the euro in the Republic of Bulgaria. The Government decided to send the request for emergency reports after the last of the Maastricht criteria for Bulgaria's accession to the euro area - that for price stability - was accepted as covered.
Each of the two institutions, the ECB and the EC, will prepare a report assessing whether Bulgaria meets the convergence criteria and is ready to introduce the single currency. The final decision is taken by all EU Member States, voting unanimously.
Source: Confindustria Bulgaria