Eurozone
Bulgaria Takes Stride Toward Eurozone Entry with New National Bank Law
The majority in Bulgaria's parliament has given the green light to the first reading of a new law governing the Bulgarian National Bank (BNB), marking a pivotal moment in the country's journey toward Eurozone accession. The legislation, if passed, will play a crucial role in facilitating Bulgaria's entry into the Eurozone.
PM Denkov Confirms: Bulgaria Aims to Join Eurozone on January 1, 2025
Prime Minister Acad. Nikolai Denkov, during discussions with Eurogroup President Paschal Donohoe at the World Economic Forum in Davos, unveiled Bulgaria's ambitious goal of becoming a member of the euro area by January 1, 2025.
Lagarde Signals Potential ECB Interest Rate Cut in Summer Amidst Wage Growth Uncertainty
European Central Bank (ECB) Governor Christine Lagarde suggested on Wednesday that the ECB might implement interest rate cuts in the summer. Speaking at the World Economic Forum in Davos, Lagarde noted that sufficient data on wage growth would be available by "late spring," enabling central bankers to determine whether eurozone inflation is set to rise or fall.
Greece has tapped 15 bln euros from EU’s Recovery Fund, minister says
Greece has received nearly 15 billion euros ($16 billion) in grants and loans from the European Union's Recovery Fund since 2021, a sum which is equivalent to about 8% of its economic output, the government said on Monday.
ECB praise for Greece’s banking progress
The European Central Bank's Supervisory Board (SSM) Chair Claudia Buch acknowledged the progress made by the Greek banking sector during her two-day visit along with Single Resolution Board Chair Dominique Laboureix to Athens.
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Bulgaria Aims for Eurozone Entry on January 1, 2025, Says Prime Minister
During a parliamentary question time, Prime Minister Nikolai Denkov declared that Bulgaria's target for joining the euro area is set for January 1, 2025. Denkov emphasized the adherence to the Maastricht criteria, integral to EU treaties, as a crucial aspect of the process.
SRB, SSM chiefs in Athens
The chairs of the Single Resolution Board (SRB) Dominique Laboureix and the Supervisory Board of the European Central Bank (SSM) Claudia Buch are in Athens on a two-day visit on Thursday and Friday.
The heads of the two European institutions met on Thursday with Bank of Greece Governor Yannis Stournaras and top executives of the BoG.
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Countdown to Eurozone: Bulgaria's Campaign Gears Up
Bulgaria is gearing up for an extensive national campaign to usher in its entry into the Eurozone on January 1, 2025. The Ministry of Finance has announced that the campaign is set to kick off at the end of January 2024, with the launch of an informative website dedicated to providing essential details about the Euro adoption.
Analyst Warns of Potential Speculative Property Price Surge in Bulgaria Amid Eurozone Entry
Petar Mastikov, Chief Analyst at the Bulgarian National Registry for New Constructions and Reconstructions, has sounded a cautionary note, expressing concerns over a possible speculative surge in property prices across Bulgaria once the country enters the eurozone.
Inflation Is Bulgaria’s Only Hurdle For The Eurozone
Prime Minister Nikolai Denkov disclosed a pivotal obstacle hindering Bulgaria's entry into the Eurozone—soaring inflation. In a candid Facebook Q&A session commemorating his government's seven-month tenure, Denkov shed light on discussions with the European Central Bank (ECB) President, emphasizing the urgent need to address inflation as a key prerequisite for Eurozone accession.