Bulgaria’s Economic and Social Council (ESC) declared that the accession to the Exchange Rate Mechanism and the Eurozone should be among the national goals for the Bulgarian economy. The ESC wants to speed up the process in order to access Eurozone: first of all, to grant the shortest stay possible in the ERM II (the Eurozone waiting room). The positive effects of the Eurozone for Bulgaria would be the inclusion in the European Central Bank, the reduction of transaction expenses for the banking system, refinancing of banks, lower interest rates on loans, opportunities for re-financing accumulated debts.
Eurozone: the next national goal
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