The European Central Bank (ECB) announced on Friday (July 7th) that Bulgaria and Croatia (leva and kuna, respectively) have been admitted to the Exchange Rate Mechanism2 (ERM2), which is the prelude to joining the eurozone. MCS2 stays for at least two years and in the case of Bulgaria the “currency board” arrangement can be maintained during this stage until effective accession. Bulgaria applied to join MCS2 in 2018, and Croatia in 2019.
For more information, please see the Romanian version of the article, here.
