Bulgaria and the euro

Freedom of movement is the most essential right enjoyed within the EU, according to a vast majority of Bulgarians, a survey finds.

The Eurobarometer poll shows some 87% of Bulgarians approve the policy.

Following are common security (72%) and migration (68%) policies.

Bulgarian authorities are involved in talks to secure the country's accession into the ERM II mechanism, interim Prime Minister Ognyan Gerdzhikov said on Wednesday.

"I have the ambition that the caretaker cabinet should hand the application for ERM II. Bulgaria meets three of four criteria," Gerdzhikov said at his first briefing marking one month in office.

Bulgarian National Bank (BNB) Governor Dimitar Radev has said it is the right time for the country to access the ERM II Mechanism, the so-called "Eurozone waiting room".

In its latest Convergence Report released on Tuesday, the European Central Bank (ECB) concluded that Bulgaria does not fully comply with the euro convergence criteria.

Apart from Bulgaria, the report examine the six other member states which do not participate in the exchange rate mechanism (ERM II), namely the Czech Republic, Croatia, Hungary, Poland, Romania and Sweden.

Bulgaria's Finance Ministry has chosen four banks as lead managers of a bond sale of up to BGN 3.9 B (EUR 2 B) on global markets in 2016, Reuters reported on Thursday, citing an inside source.

Another source has told the newswire that Citi and JP Morgan Chase were two of the chosen lead managers, and the other two were European banks.

The Bulgarian National Bank has said it will put forward a possible approach to the accession of the country into the single currency area.

Bulgaria will not obstruct the allocation of a bridge loan of EUR 7,160 B to Greece provided that there are firm guarantees enshrined in law that EU countries outside the euro zone will not be directly affected financially by potential unfavorable developments in the country, according to Finance Minister Vladislav Goranov.

With banks in Greece closed since 29 June and cash withdrawals rationed at up to EUR 60 per day, the Bulgarian lev has gained the status of a 'dependable and stable' currency at shops, hotels and restaurants in northern Greece, the Financial Times has said.

The stability of the EU and the eurozone is a matter of paramount importance for Bulgaria, Prime Minister Boyko Borisov has said after Greeks rejected the creditors' terms of a cash-for-reforms deal.

The resounding 'No' in Sunday's referendum in Greece has set Athens up for further clash with European creditors and uncertain future in eurozone.

Bulgaria's government is to consider a proposal for the creation of a special council tasked with preparing Bulgaria for eurozone accession at a regular meeting on July 1.

The project was drafted and submitted to the government by Finance Minister Vladislav Goranov, according to a media statement of the government, as cited by econ.bg.