Economics
A Euro Aspirant Backpedals as Worries Weigh on Prices and Banks
- Bulgaria delays euro-area waiting room entry planned for April
- Delay is setback for goal seen boosting living standards
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Bulgaria postponed a key part of its bid to adopt the euro and will advance only if its banks are ready and there’s a wide consensus among citizens.
After redoubling efforts to join the single currency following a snub in 2018, the Balkan country had planned to enter the ERM-2 -- the euro’s ante room -- by end-April. But with banks continuing to shore up their books and opinion polls showing voters may not be ready, Premier Boyko Borissov said his government was now pushing that back until July.