Bulgaria's Euro Dreams Shattered: European Commission Drops Bombshell

The European Commission's latest report on convergence has determined that Bulgaria does not meet the necessary conditions for adopting the euro. This conclusion, announced today, affects Bulgaria along with five other EU member states that are not yet part of the Eurozone.

According to the report, Bulgaria falls short specifically on the criterion of price stability while meeting the criteria for sustainable public finances, exchange rate stability, and long-term interest rates....