To be able to accept the euro, the country must meet the so -called convergence criteria. On the basis of the European Commission's assessment, Member States decide to allow a given country to the euro area. The European Commission positively assessed the progress of Bulgaria in this respect on June 4.
Final political decisions will be discussed by EU leaders during the next summit in Brussels. The legal approval process is to be completed in July with the adoption of three key legal acts by the Member States. Thanks to this, Bulgaria will be able to bring the euro into circulation at the beginning of 2026.
When will Poland accept the euro?
Currently, there are six European Union countries outside Euroland: Poland, Sweden, the Czech Republic, Hungary, Romania and Denmark.
The Polish finance minister, Andrzej Domański, who presided over the Friday meeting of ministers in Luxembourg, emphasized in an interview with the media that Poland is currently not conducting activities aimed at the introduction of the euro. “In my opinion, this is an optimal state,” he noted.
Euro zone. What do you need to do to join?
The requirements for entering the euro area include four main criteria: price stability (slight inflation), healthy public finances (budget deficit not exceeding 3 % of GDP and public debt below 60 percent of GDP), stability of the exchange rate (participation in the ERM II mechanism for at least two years without major interference) and the convergence of long -term interest rates (not more than 2 percentage points the lowest inflation).
Bulgaria entered the ERM II mechanism – the so -called “Waiting room euro” – on July 10, 2020. From that moment, the Bulgarian left course was associated with the euro.
