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Eurogroup supports Bulgaria’s will to enter ERM-2 and banking union simultaneously

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At a Brussels-held sitting attended by Finance Minister Vladislav Goranov and Central Bank CEO Dimitar Radev, the Eurogroup unanimously supported Bulgaria’s intentions in the sphere of bank supervision, the finance sector and the quality of institutions and management. A message from the session reads that Bulgaria might join the ERM-2 mechanism and the bank union simultaneously. The Eurogroup expects this country to submit over the next days its request for enhanced cooperation with the European Central Bank. In about a year the bank will assess this cooperation and in case the assessment is positive, the door to the ERM-2 mechanism will be open. President of the Eurogroup Mario Centeno underlined that Bulgaria’s will to join the monetary union was yet another proof of the latter’s attractiveness.




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