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Bulgaria does not meet all requirements for euro area membership, ECB says

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A report of the European Central Bank, published on Tuesday, reads that none out of seven countries that want to join the euro area, including Bulgaria, actually meets all the criteria for joining the single currency community. The authors point out that in general the economies of Bulgaria, the Czech Republic, Croatia, Hungary, Poland, Romania and Sweden are on sound footing, but their national laws are not in accordance with the standards of the ECB. The report shows that it would take time before the euro zone, which currently includes 19 members, expands.



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