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EU ministers and Bulgaria discuss the countr's entry to the Euro zone

Date: 29.03.2007

Finance Minister Plamen Oresharski and EU ministers will discuss in the coming month Bulgaria’s acceptance to the EU exchange rate mechanism (ERM).

Ministers will meet in Berlin on April 20.

EU member countries first pass through the ERM stage. If they manage to achieve two years without currency devaluation, they can go further and join the euro zone.

According to economists Bulgaria could join the euro zone in 2009 or 2010. One of the common European currency acceptance criteria the country still fails to meet is lower inflation.

Romania said it could join the ERM in the coming three to five years.

Of all EU newcomers, only Slovenia has adopted the euro. Cyprus and Malta applied to join the euro zone next year.

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