Economics
Bulgaria Blames ‘Constantly Changing' Demands for Euro Delay
- Balkan country postpones application to enter ERM-2 anteroom
- EU, ECB have asked for more progress on governance, economy
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Bulgaria blamed the imposition of new requirements by the European Union and the European Central Bank for holding up its euro-adoption bid.
Having planned an application to join the common currency’s anteroom as the highlight of its six-month EU presidency, the Balkan nation said Tuesday that it will postpone efforts to enter the exchange-rate mechanism, or ERM-2. Prime Minister Boyko Borissov criticized euro-area countries for demands that included pressure to join the bloc’s banking union.