Bulgaria And The Euro
Bulgaria is expected to adopt the euro on 1 January 2026, which would make it the 21st member state of the eurozone. When Bulgaria joined the EU in 2007 it committed to join the eurozone and replace its currency with the euro. In February 2025, the country officially requested off-cycle assessments of their convergence by the European Commission and ECB to determine the country's readiness. The 2025 convergence reports published on 4 June 2025 concluded that Bulgaria met the convergence criteria. The Bulgarian lev has been under a currency board since 1997, with a fixed exchange rate initially against the Deutsche Mark and subsequently its replacement, the euro. The convergence exchange rate is fixed at 1 EUR = 1.95583 BGN. When Bulgaria adopts the euro, it would become only the second official currency in the country's history, replacing the lev, which was established in 1880 and first introduced in 1881. Convergence criteria When it joined the European Union in 2007, Bu ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Eurozone
The euro area, commonly called the eurozone (EZ), is a Monetary union, currency union of 20 Member state of the European Union, member states of the European Union (EU) that have adopted the euro (Euro sign, €) as their primary currency and sole legal tender, and have thus fully implemented Economic and Monetary Union of the European Union, EMU policies. The 20 eurozone members are: : Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. The seven non-eurozone members of the EU are Bulgaria, the Czech Republic, Denmark, Hungary, Poland, Romania, and Sweden. They continue to use their own national currencies, although all but Denmark are obliged to join once they meet the euro convergence criteria. Bulgaria is targeting to join the eurozone on 1 January 2026. Bulgaria is expected to become the 21st eurozone member from January 1, 2026. ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Paisius Of Hilendar
Saint Paisius of Hilendar or Paìsiy Hilendàrski () (1722–1773) was a Bulgarian Orthodox clergyman and a key Bulgarian National Revival figure. He is most famous for being the author of '' Istoriya Slavyanobolgarskaya'' (1762), the first significant modern Bulgarian history that became famous and has been copied and distributed everywhere in the Bulgarian lands. The book is, overall, the third modern work of Bulgarian history, after the works titled "History of Bulgaria" by Petar Bogdan Bakshev in 1667 and by Blasius Kleiner in 1761. He is considered the forefather of the Bulgarian National Revival. Paisius was born in the Samokov eparchy of the time. There is a scientific dispute about the exact place of his birth, although the prevailing consensus points to the town of Bansko. He established himself in the Hilandar monastery in 1745, where he was later a hieromonk and deputy-abbot. Collecting materials for two years through hard work and even visiting the Habsburg monarchy ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Simeon Djankov
Simeon Dyankov (, also Djankov; born July 13, 1970) is a Bulgarian economist and chairman of the Fiscal Council since March 2025. From 2009 to 2013, he was the deputy prime minister and minister of finance of Bulgaria in the government of Boyko Borisov. He has been a vocal supporter of Bulgaria's entry into the Eurozone. Before his cabinet appointment, he was the chief economist of the finance and private sector vice-presidency of the World Bank. At the World Bank, Dyankov was director for development policy and senior director in the office of the chief economist. Dyankov was involved in the publication of ''Women Business and the Law'', ''World Development Report''s and ''Ease of doing business index, Doing Business'' reports. The Doing Business reports were discontinued after an audit documented that Dyankov, along with then World Bank CEO Georgieva, pressured staff to make data for China and Saudi Arabia look better. He was an associate editor of the ''Journal of Comparative ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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European Sovereign-debt Crisis
The euro area crisis, often also referred to as the eurozone crisis, European debt crisis, or European sovereign debt crisis, was a multi-year debt crisis and financial crisis in the European Union (EU) from 2009 until, in Greece, 2018. The eurozone member states of Greece, Portugal, Ireland, and Cyprus were unable to repay or refinance their government debt or to bailout fragile banks under their national supervision and needed assistance from other eurozone countries, the European Central Bank (ECB), and the International Monetary Fund (IMF). The crisis included the Greek government-debt crisis, the 2008–2014 Spanish financial crisis, the 2010–2014 Portuguese financial crisis, the post-2008 Irish banking crisis and the post-2008 Irish economic downturn, as well as the 2012–2013 Cypriot financial crisis. The crisis contributed to changes in leadership in Greece, Ireland, France, Italy, Portugal, Spain, Slovenia, Slovakia, Belgium, and the Netherlands as well as in ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Simeon Dyankov
Simeon Dyankov (, also Djankov; born July 13, 1970) is a Bulgarian economist and chairman of the Fiscal Council since March 2025. From 2009 to 2013, he was the deputy prime minister and minister of finance of Bulgaria in the government of Boyko Borisov. He has been a vocal supporter of Bulgaria's entry into the Eurozone. Before his cabinet appointment, he was the chief economist of the finance and private sector vice-presidency of the World Bank. At the World Bank, Dyankov was director for development policy and senior director in the office of the chief economist. Dyankov was involved in the publication of ''Women Business and the Law'', ''World Development Report''s and '' Doing Business'' reports. The Doing Business reports were discontinued after an audit documented that Dyankov, along with then World Bank CEO Georgieva, pressured staff to make data for China and Saudi Arabia look better. He was an associate editor of the ''Journal of Comparative Economics'' from 2004 to 200 ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Prime Minister Of Bulgaria
The Prime Minister of Bulgaria () is the head of government of Bulgaria. They are oftentimes the leader of a political coalition in the Bulgarian parliament, known as the National Assembly In politics, a national assembly is either a unicameral legislature, the lower house of a bicameral legislature, or both houses of a bicameral legislature together. In the English language it generally means "an assembly composed of the repr ..., and the leader of the Government of Bulgaria, cabinet. At times, the Prime Minister has been appointed by the President of Bulgaria, in order to lead a caretaker government. The current Prime Minister is Rosen Zhelyazkov, who has served since 16 January 2025. See also * Government of Bulgaria * History of Bulgaria * Politics of Bulgaria * List of Bulgarian monarchs * List of heads of the state of Bulgaria * List of presidents of Bulgaria (1990–present) References {{Prime Minister Prime ministers of Bulgaria, 1879 establishmen ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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German Mark
The Deutsche Mark (; "German mark"), abbreviated "DM" or "D-Mark" (), was the official currency of West Germany from 1948 until 1990 and later of unified Germany from 1990 until the adoption of the euro in 2002. In English, it was typically called the "Deutschmark" ( ). One Deutsche Mark was divided into 100 pfennigs. It was first issued under Allied occupation in 1948 to replace the Reichsmark and served as the Federal Republic of Germany's official currency from its founding the following year. On 31 December 1998, the Council of the European Union fixed the irrevocable exchange rate, effective 1 January 1999, for German mark to euros as DM 1.95583 = €1. In 1999, the Deutsche Mark was replaced by the euro; its coins and banknotes remained in circulation, defined in terms of euros, until the introduction of euro notes and coins on 1 January 2002. The Deutsche Mark ceased to be legal tender immediately upon the introduction of the euro—in contrast to the other euro ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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The Sofia Echo
''The Sofia Echo'' was a national English-language weekly newspaper published out of Sofia, the capital of Bulgaria, between 1997 and 2012, when it moved to online-only operation at SofiaEcho.com. The website ceased updating a year later. History and profile The ''Sofia Echo'' began publishing in April 1997, generally targeted at the Bulgarian expatriate community. The newspaper was published by Sofia Echo Media Ltd. A majority stake in the company was bought in 2007 by Bulgarian publisher Economedia. The newspaper was distributed in major Sofia hotels, in outlets throughout the country, as well as in the OMV, Lukoil and Shell petrol station A filling station (also known as a gas station [] or petrol station []) is a facility that sells fuel and engine lubricants for motor vehicles. The most common fuels sold are gasoline (or petrol) and diesel fuel. Fuel dispensers are used to ...s and the Billa (supermarket), Billa hypermarkets. From 2005 on, articles from the weekl ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Plamen Oresharski
Plamen Vasilev Oresharski (, born 21 February 1960) is a Bulgarian politician who served as Prime Minister of Bulgaria from 2013 to 2014. Affiliated with the Bulgarian Socialist Party, he previously served as Member of the National Assembly from 2009 to 2013, Minister of Finance from 2005 to 2009 and Deputy Minister of Finance from 1997 to 2001. Early life and education Oresharski was born on 21 February 1960 in Dupnitsa, Bulgaria. In addition to his native Bulgarian, he speaks English and Russian. In 1985, Oresharski graduated from the University of National and World Economy. Between 1988 and 1992, Oresharski completed a dissertation on the topic of "Investments and Investment Analysis", earning the equivalent of a doctoral degree. From 1993, Oresharski was Director of the Division for the State Treasury and Debt of the Ministry of Finance. Between 1995 and 1997, he served on the Governing Council of the Bulgarian Stock Exchange, and from 1997 to 2000 on the board of t ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Convergence Criteria
The euro convergence criteria (also known as the Maastricht criteria) are the criteria European Union member states are required to meet to enter the third stage of the Economic and Monetary Union of the European Union, Economic and Monetary Union (EMU) and adopt the euro as their currency. The four main criteria, which actually comprise five criteria as the "fiscal criterion" consists of both a "debt criterion" and a "deficit criterion", are based on Wikisource:Consolidated version of the Treaty on the Functioning of the European Union/Title VIII: Economic and Monetary Policy#Article 140, Article 140 (ex article 121.1) of the Treaty on the Functioning of the European Union. Full EMU membership is only open to EU member states. However, the Microstates and the European Union, European microstates of Andorra, Monaco, San Marino and the Vatican City, which are not members of the EU, have signed International status and usage of the euro#Sovereign states, monetary agreements with t ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Maastricht Treaty
The Treaty on European Union, commonly known as the Maastricht Treaty, is the foundation treaty of the European Union (EU). Concluded in 1992 between the then-twelve Member state of the European Union, member states of the European Communities, it announced "a new stage in the process of European integration" chiefly in provisions for a European Union citizenship, shared European citizenship, for the eventual introduction of Euro, a single currency, and (with less precision) for Common Foreign and Security Policy, common foreign and security policies, and a number of changes to the European institutions and their decision taking procedures, not least a strengthening of the powers of the European Parliament and more majority voting on the Council of the European Union, Council of Ministers. Although these were seen by many to presage a "Federalisation of the European Union, federal Europe", key areas remained inter-governmental with national governments collectively taking key dec ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |