Multi-speed Europe

The only country in the Eurozone to experience a monthly decline

Economist Mihail Krastev has pointed out that while Bulgaria focuses on meeting the inflation criterion in its bid to join the Eurozone, there is a significant risk of failing to meet other essential requirements, such as the size of the deficit.

The Bulgarian Ministry of Finance projects that Bulgaria will satisfy the inflation criterion by the year's end, as per the ministry's models. Deputy Minister of Finance Metodi Metodiev highlighted this during the "Introduction of the Euro - Risks and Challenges: The Experience of Croatia" conference.

A recent study conducted by the Foundation for Political Innovation and the Ipsos Institute across 27 EU member states reveals that only 13 percent of citizens express a desire to leave the bloc. Notably, this sentiment spans even among voters of far-right parties.

The Law on the introduction of the euro could be approved by the National Assembly before the summer concludes, according to acting Deputy Finance Minister Metodi Metodiev's projection today. Metodiev also stated that Sofia is expected to meet the inflation criteria required for Eurozone entry by the year's end, based on the department's models.

Norway said on Thursday that it will close its border to Russian tourists, shutting their last direct access to Europe's border-free Schengen area.

As of May 29, most Russian tourists will not be able to enter Norway, which shares a 198-kilometer (123-mile) border with Russia in the Arctic, the government said in a statement.

Romanian citizens have been granted exemption from visa requirements for tourist visits to Türkiye, according to a presidential decree.

As per the decision published in the Official Gazette on May 21, Romanian nationals will not be required to obtain a visa for tourist stays and transit passages of up to 90 days within every 180-day period.

Bulgaria's prospects for joining the euro in 2025 have been bolstered by a cooling annual inflation rate, which dropped to the eurozone average of 2.4% in April, marking its first dip below 3% since the summer of 2021, according to statements from the country's finance ministry to Euractiv Bulgaria.

The Greek economy's growth rate as well as the increase in investments and exports are currently the country's strongest points, compared to the rest of the eurozone, as shown in the statistical tables of the Commission's spring forecasts, published on Wednesday.

The European Commission calculates Greece's growth at 2.2% in its spring forecasts for this year and 2.3% for 2025, undercutting the projection of the Greek government. Brussels' forecast was below the estimate of the recent Stability Program for 2.5% and 2.6% respectively.