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BULGARIA SWITCHES TO EURO IN 2010 AT THE EARLIEST
Bulgaria is set to switch to euro currency in 2010 at the earliest, the governor of the Bulgarian National Bank (BNB) Ivan Iskrov said, as cited by Pari Daily.
The publication adds that Bulgaria’s accession will bring fierce competition. The market will become open, some banks will open new branches around the country but a massive invasion of foreign banks is not expected. As for the level of prices nothing dramatic should be expected. Bulgaria is very well prepared because of the currency board and the fixed EUR/BGN exchange rate, the article reads further.
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