Euro

President Radev Discussed Bulgaria's Bid to Join the Euro Area with BNB Governor

Bulgaria's President Rumen Radev met Governor of the Bulgarian National Bank (BNB) Dimitar Radev on February 13. The focus of the meeting was Bulgaria's announced intention to join the Exchange Rate Mechanism II (ERM II), which is the first mandatory step for joining the euro area, BNT reported.

Current account deficit, up almost 17 pct in 2019, to 10.48 bln euros

The balance-of-payments current account registered a deficit of 10.478 billion euros last year, an increase of almost 17 pct compared to the similar period of 2018, shows a press release of the National Bank of Romania (BNR) sent to AGERPRES on Thursday. In 2018, the current account deficit was 8.96 billion euros.

EU: Industrial production falls in 2019

The EU's industrial output in 2019 slipped 1.1 percent compared to previous year, the bloc's statistical office reported on Feb. 12.

Eurostat said the figure was also down 1.7 percent in Eurozone during the same period.

The eurozone/euro area or EA19 represents member states that use the single currency -- euro -- while the EU27 includes all member countries of the bloc.

Piraeus Bank opens books for 10-year Tier 2 note

Piraeus Bank, Greece's largest lender by assets, on Wednesday opened books for a 10-year Tier 2 bond issue, aiming to raise about 500 million euros ($546 million), a source close to the deal said.
"Piraeus Bank is opening books for a 10-year issue, aiming at about 500 million euros," the source told Reuters.
Pricing is seen in the low 6 percent range, the source added.

BNR: Business Organizations in Bulgaria Oppose Holding of Referendum on Introduction of Euro

The national organizations representing workers and employees, and employers in Bulgaria express full support for the National Assembly's decision - that the country should leave the exchange rate mechanism should a Lev-Euro exchange rate be proposed that is different from the exchange rate now in place.

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