April 26, 2018 / 10:23 AM / a month ago

Bulgaria can join euro zone's ERM-2 within a year - PM Borissov

SOFIA, April 26 (Reuters) - Bulgaria will apply to adopt the euro and can join ERM-2, the two-year obligatory waiting room for euro zone membership, within a year, Prime Minister Boyko Borissov said on Thursday.

Borissov told an economic forum Bulgaria wanted more talks with European Union and European Central Bank officials to convince them that Bulgaria needs to join the ERM-2 first and the EU’s Banking Union immediately after.

Bulgaria, which joined the European Union in 2007, meets the formal criteria to adopt the common currency, but needs to push on with reforms to help it catch up with richer Western euro zone members in terms of living standards. (Reporting by Tsvetelia Tsolova Editing by Gareth Jones)

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