EC Vice President Valdis Dombrovskis: Bulgaria Met the Requirements for Public Finances, Not Fully Compatible to Join ERM II

The European Commission has presented a report on the progress of non-Eurozone countries towards the adoption of the euro.   EC Vice President Valdis Dombrovskis said there was encouraging progress in some countries. He congratulated Croatia and Bulgaria on their preparations for joining the ERM II currency mechanism.    The document concludes that Bulgaria, Poland, Hungary, Croatia, the Czech Republic and Sweden meet the requirement for public finances and long-term interest rates. Croatia and Sweden meet the requirements for price stability.   Yet the national legislation in none of those countries, with the exception of Croatia, is fully compatible with Eurozone rules, the report said./BNR

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