Criteria for entry into the Exchange Rate Mechanism (ERM II)

Perspectives

Banking Alert! Criteria for entry into the Exchange Rate Mechanism (ERM II)

The prospects of Bulgaria's participation in the Exchange Rate Mechanism (ERMII) sets a precedent for future applicants for participation in the ERMII. As the Eurogroup expects to follow a similar approach with other Member States seeking to join ERMII, we should be mindful of the structural and governance obstacles to deep financial integration that need to be overcome quickly.

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