April 27, 2018 / 3:22 PM / a few seconds ago

Bulgaria determined to apply for ERM-2 membership by end-June

SOFIA, April 27 (Reuters) - Bulgaria wants to apply to join the ERM-2 mechanism, a waiting room for the adoption of the euro currency, in the first half of this year, Finance Minister Vladislav Goranov said on Friday.

“There is nothing that enforces a change in our strategy... The timeline, which we have set together with the Bulgarian National Bank is the first half of the year, “ Goranov told a news conference after a meeting of EU finance ministers.

He said that timeline for the application did not clash with expectations of Bulgaria’s prime minister that the Balkan country would be allowed into the ERM-2 — a stability test for the currency — within a year.

Goranov said he expected Bulgaria would join the euro after spending the 24 months in the ERM-2 required by EU laws. There are now 19 countries that share the euro currency. (Reporting by Tsvetelia Tsolova)

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