Eastern European Nations Face a Tougher Route to the Euro
- Bulgaria facing stricter terms in bid to adopt common currency
- Croatia is the next ex-communist nation eyeing a switch
Bulgaria's Central Bank in Sofia.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
For eastern European nations eyeing the euro, the goalposts just moved.
Bulgaria is the latest ex-communist country to set its sights on the single currency, getting the nod from the European Union last week to proceed with its bid. But it was forced to accept stricter conditions than past entrants. Euro-area finance ministers have indicated the new terms will still apply when the likes of Croatia and Romania follow suit.