The social partners express their full support for all necessary steps for Bulgaria’s accession to the ERM II

In view of the expressed readiness of the Bulgarian Government to initiate the application procedure for the Republic of Bulgaria’s accession to the Exchange Rate Mechanism (ERM II) by the end of April 2020, the nationally representative employers’ organizations and trade unions in Bulgaria expressed the following position:

“The social partners and the Economic and Social Council of the Republic of Bulgaria have repeatedly stated their unequivocal support for accelerated preparation and quick admission to the ERM II mechanism and subsequently to the Eurozone.

The high level of financial trust and sustainability of our country have been repeatedly confirmed in the framework of the so-called European Semester procedures and in the official positions of the European Commission, which in the current emergency situation is an even stronger argument in favour of our country’s fastest possible admission to the ERM II and subsequently to the Eurozone.

In this regard, we express our categorical and full support for all the necessary steps in fulfillment of the agreed preliminary commitments and initiation of the procedures for Bulgaria’s accession to the Exchange Rate Mechanism (ERM II) by the end of April 2020.

This action will accelerate Bulgaria’s full EU integration, will make it easier to come out of the recession triggered by the global spread of Covid-19, and will give the start to a multitude of positive developments in the economy and the social sphere in the long-term.”