Why Bulgaria Will Struggle to Adopt the Euro by 2024

Bulgaria is planning to adopt the euro in 2024, further integrating into the European Union’s financial system in a bid to boost living standards in the bloc’s poorest member state. Along with Croatia, Bulgaria joined an exchange rate mechanism in preparation in 2020. But it fell behind Croatia, which became the euro area’s 20th member this year. And even Bulgaria’s less-ambitious timetable is in peril as political instability complicates progress toward clearing the remaining hurdles.

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