Abstract

Each new European Union Member State shall become also part of the Euro Area. This does not happen immediately after EU accession. The new Member State shall be first part of the Single Market and perform the EU Common Policies for several years before trying to qualify for the adoption of the Euro.
Bulgaria has joined the EU on 1 January 2007. Recently, in 2020, Bulgaria has performed the next important step for joining the euro – accession to the Exchange Rate Mechanism (ERM II) and the Banking Union. The current material describes the steps and the road of Bulgaria to the Euro Area.