 THE BULGARIAN LEV IN ERMII. IS IT POSSIBLE TO MEET THE EURO AREA ENTRY CRITERIA WITHIN A MINIMUM OF TWO YEARSMariella Nenova-Amar ()
Yearbook of the Faculty of Economics and Business Administration, Sofia University, 2022, vol. 21, issue 1, 131-152 Abstract: The entry of the Bulgarian lev in the Exchange Rate Mechanism II (ERM II) in July 2020 opens the door to entry in the euro area. The article assesses the feasibility of fulfilling the Maastricht quantitative economic criteria, with a focus on the criteria for price stability and sound public finances which are found to have been the most problematic for the Baltic countries in their accession to the euro area. A controversial relationship between the business cycle and the achievement of those criteria has been identified. Based on the analysis, an assessment is made, namely that it will be probable for the Bulgarian economy to meet the quantitative economic criteria for euro area entry in the shortest possible period. Keywords: inflation; price stability; business cycle; budget deficit; fiscal policy; ERMII; Maastricht criteria. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:sko:yrbook:v:21:y:2022:i:1:p:131-152 Access Statistics for this article More articles in Yearbook of the Faculty of Economics and Business Administration, Sofia University from Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria Contact information at EDIRC. |
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