site.btaPrime Minister Borissov: Bulgaria Will Resubmit ERM II Application by end-April

ESD 14:33:31 10-04-2020
SN1430ES.114
114 POLITICS-BULGARIA - PRIME MINISTER-ERM II

Prime Minister Borissov:
Bulgaria Will Resubmit ERM II Application
by end-April


Sofia, April 10 (BTA) - Bulgaria will resubmit its application for the Exchange Rate Mechanism (ERM II), said Prime Minister Boyko Borissov during a visit to the southern town of Haskovo on Friday, which was livestreamed on Facebook.

"We haven't given up on our plans, but we decided to wait in order to convince people that this decision was right," said Borissov. According to the Prime Minister this crisis has proven that Bulgaria should join the eurozone. He expressed conviction that Bulgaria will be admitted.

The European Central Bank is pumping money to overcome the economic effects of the COVID-19 emergency but the money is targeted mainly at eurozone countries. Countries which are not in the eurozone will have to take out loans at a a very high interest rate, said Borissov. RI/PP