Bulgaria has met two of the four criteria for eurozone membership. This is stated in the European Commission's report on the progress made by non-euro area countries in adopting the single European currency.
The European Central Bank presented its report on the subject today, June 10. According to Brussels, Bulgaria meets the criteria related to public finances and long-term interest rates, but does not meet the criteria for price stability and the exchange rate.
Both the European Commission and the European Central Bank note that the country's legislation is not fully compatible with all requirements for adopting the euro. According to the ECB, Bulgaria is taking significant steps towards the waiting room of the eurozone, but the quality of work of the institutions in the country remains low.
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