site.btaEurogroup President Donohoe Looks Forward to Welcoming Bulgaria to Euro Area Family Next Year

‘Bulgaria has now met all the necessary criteria for euro area membership,’ reads Wednesday statement published on the Council of the EU's website by Eurogroup President, Paschal Donohoe, who said he very much looks forward to welcoming Bulgaria to the euro area family next year.

"I warmly welcome the positive conclusions of the Convergence Reports published today by the European Commission and the European Central Bank. These reports confirm that Bulgaria has now met all the necessary criteria for euro area membership — a pivotal milestone on its path to adopting the euro," he said. 

The Eurogroup has consistently supported Bulgaria’s ambition to join the euro area and will continue to work closely with the Bulgarian government on the next steps of the accession process, the statement reads.

Bulgaria’s euro area membership will not only mark a significant achievement for the country with important benefits for its economy, but will also reinforce the strength, resilience, and voice of the euro area. This development reflects the enduring stability and attractiveness of our common currency, the statement says.