as Bulgaria and Croatia, have taken a first step in the accession to the euro area. The European Central Bank (ECB) to leave on Friday knowing that the two countries have been admitted to ERM-2, in a system in which countries is of the stability of their currencies for at least two years, must demonstrate, before the euro was introduced to it.
in Addition to the entry into the exchange rate mechanism ERM-2, it was announced by the ECB to countries, from 1 October, as part of the European banking union. The largest banks in Bulgaria and Croatia, from that date, under the supervision of the european central bank.
in Addition to a stable exchange rate, the countries in this period, and show that they are "solid" economic policies.
for example, If, after a minimum of two years within the exchange rate mechanism (erm indicates that the countries are able to comply with the terms and conditions of the ECB's preparations for the introduction of the euro in the member states. That process is going on, at least for a year period: at the earliest, the two countries only in 2023 to join the euro area.
Bulgaria is decided that the request has been set up
finally, in Bulgaria, an EU member state since 2007, which it gave in the beginning of 2018 is already to want to join the euro zone. "Bulgaria has a stable currency, economic growth rate of 4 per cent and a low unemployment rate. We are getting ready to take a seat in the waiting room of the eurozone", said the prime minister Borissov at the time.
now, half A year later it was decided the land, the application is still to be set. The country did not meet the formal requirements for joining the ECB, said: According to Borissov, this is because the ECB, the conditions are ever-changing.
Croatia has developed in 2013, is affiliated with the European Union, but it is not part of the Schengen agreement and the eurozone. Jean-Claude Juncker, the former president of the European Commission, published in the summer of 2019 and that he believed that the country is ready for accession to the euro area.
The last time the country joined the euro zone in 2015. For lithuania, this was the year the tradition of the country is the euro, which without any problems was good or not.