Bulgaria: Borissov says application for Eurozone waiting room will be examined in July

Bulgaria: Borissov says application for Eurozone waiting room will be examined in July

We are the country with the second smallest external debt in the EU. Sustained GDP growth has been highly appreciated by the European Commission, Bulgarian Prime Minister Boyko Borissov said on Friday while in Brussels.

The fact that we need to move slower regarding the Eurozone waiting room has to do with Steve Hanke’s interview. We discussed the guarantee for the exchange rate of the lev, Borissov added.

To a question regarding when he is expected to enter the Eurozone waiting room, Borissov replied, “The timetable we are discussing is July – not April, then both Croatia’s and Bulgaria’s applications will be examined. Until then, Bulgarian banks must carefully monitor their capital solvency in order to avoid obstacles. This is the only way that leads to the waiting room and only through unanimous consensus within the country, Borissov added. Again, there is no country that has adopted the euro and went to subsequently become poorer or weaker, Borissov concluded. /ibna