Fiscal Council: Bulgaria’s Adoption of the Euro Proceeding Without Major Issues

Bulgaria’s transition to the euro is proceeding smoothly, marking a major step in the country’s full integration into the European Union, according to an analysis by the Fiscal Council. The Council notes that the adoption of the single currency benefits from particularly favorable conditions. Bulgaria’s long-standing currency board and fixed exchange rate have minimized the usual risks associated with monetary policy shifts and currency fluctuations, setting the country apart from nations with floating exchange rates....