Bulgaria Secures Support for Eurozone Entry by 2025

EU | February 1, 2024, Thursday // 19:45|  views

Nikolai Denkov

Prime Minister Nikolai Denkov's strategic diplomacy at the European Council has yielded promising results as Bulgaria gears up for full acceptance into the Eurozone and Schengen by January 1, 2025. Following bilateral discussions with key leaders, Denkov revealed optimistic responses from Germany, the Netherlands, Slovenia, and Finland - countries traditionally known for their cautious fiscal approach.

Currently, Bulgaria is set for March 31st to join the so-called "air and sea" Schengen.

Denkov emphasized Bulgaria's robust fiscal position during talks with counterparts, showcasing low external debt, a minimal deficit, and an expectation for inflation within the Maastricht rules. Encouragingly, the Prime Minister announced solid support from these nations when Bulgaria's accession is discussed.

Chancellor Olaf Scholz of Germany assured Denkov of steadfast support for Bulgaria's entry into the Eurozone and the removal of land borders in Schengen. Finland, represented by Prime Minister Petteri Orpo, echoed a positive stance on both fronts.

In a significant endorsement, President of the European Commission, Ursula von der Leyen, affirmed long-standing confidence in Bulgaria and Romania's readiness for Schengen. Responding to Austria's potential veto lift, von der Leyen highlighted recent border strengthening initiatives and fact-finding missions that convinced Austria to reconsider.

"The Commission has been convinced for years that Bulgaria and Romania are ready for Schengen," von der Leyen emphasized. "Bulgaria and Romania fully deserve to be in Schengen in full."

As Bulgaria's Eurozone aspirations gain momentum, Denkov's diplomatic efforts have set the stage for a transformative entry into the economic and border-free zones, marking a historic step for the nation.

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Tags: Bulgaria, Eurozone, Schengen, European


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