January 11, 2018 / 9:47 AM / a year ago

Bulgaria expects to apply to join ERM-2 by June-finmin

SOFIA, Jan 11 (Reuters) - Bulgaria expects to apply to join the European exchange rate mechanism known as ERM-2 by June as a preliminary to adopting the euro, Finance Minister Vladislav Goranov said on Thursday.

“Most likely we will apply in the first six months,” Goranov told reporters through an interpreter. A spokeswoman confirmed that he was referring to an application in the first half of 2018.

“In no way we can present any risk to the euro zone,” he said, describing Bulgaria’s two-decade linking of the lev currency to the euro and the country’s strong economic fundamentals, which are well within the criteria for euro zone membership.

The EU executive has said it supports the move but not all the 19 members of the single currency area are comfortable with Bulgaria joining. (Reporting by Alastair Macdonald; Editing by Alison Williams)

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