Multi-speed Europe

A recent national survey conducted by the Market Links agency reveals that nearly half of Bulgarians, constituting 47% of respondents, hold reservations regarding the anticipated benefits of Bulgaria's adoption of the euro.

Acting Prime Minister Dimitar Glavchev outlined Bulgaria's aspirations to adopt the euro by 2025 during a meeting with ambassadors from EU member states, the US, the UK, and Switzerland. The caretaker government emphasized its commitment to ensuring fair and democratic elections while simultaneously pursuing key international policy goals.

The eurozone economy rebounded in the first quarter from a mild recession as Germany returned to growth and expansion accelerated elsewhere, while inflation steadied to reinforce the case for the European Central Bank to cut interest rates.

Turkish diplomatic sources have refuted allegations that Germany, Italy and Spain have shuttered visa applications for Turkish citizens until the end of May, attributing the latest problem to a backlog of appointments.

The government plans an early repayment of up to €5 billion of bailout loans to eurozone countries this year, two government officials told Reuters on Tuesday.

The eurozone and the International Monetary Fund (IMF) lent Greece about €280 billion during the crisis on the condition that it impose tough austerity measures.

Bulgaria stands to lose approximately BGN 1 billion each year due to its continued exclusion from full membership in the Schengen area, Economy Minister Petko Nikolov cautioned. Speaking at the Vienna Economic Forum alongside representatives from prominent international companies, Nikolov emphasized the urgent need for Bulgaria's accession to Schengen.

Credit ratings agency S&P on Friday revised its outlook on Greece to "positive" from "stable," saying the tight fiscal regime will continue to spur a reduction in the government debt ratio.

EU Commissioner for Home Affairs Ylva Johansson conducted an inspection of border control measures at Sofia Airport, marking a significant step in Bulgaria's accession to the Schengen Area by air. Accompanied by Bulgaria's caretaker Interior Minister Kalin Stoyanov, Commissioner Johansson observed the revamped procedures implemented after Bulgaria's Schengen accession.

The path to Eurozone accession for Bulgaria may see a significant milestone in 2025, albeit not at the outset of the year, according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB).

Amidst discussions about Bulgaria's journey towards joining the Eurozone, Deputy Governor of the Bulgarian National Bank (BNB), Petar Chobanov, highlighted the robustness of Bulgaria's banking system, stating it aligns closely with Eurozone standards.