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Bulgaria to apply for ERM-2 by June 2018

Bulgaria would most likely apply for ERM-2 by mid-year, the Finance Minister Vladislav Goranov announced on Thursday. The country had long met all formal criteria for joining the euro zone and was frustrated that fellow EU states were reluctant to let it in. EU officials have said that not all 19 members of the single currency area are comfortable with Bulgaria joining, in particularly Germany citing large difference between Bulgarian and EU average incomes as well as the corruption and organised crime.

Source: Reuters; FFBH

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