BREAKING NEWS

Report: Bulgaria abandons plans to enter euro zone

By REUTERS

SEPTEMBER 3, 2012 22:42

SOFIA - Bulgaria has abandoned plans to adopt the single currency in response to deteriorating economic conditions and rising uncertainty over the prospects of the European Union, Finance Minister Simeon Djankov was quoted as saying on Monday.

The EU's poorest member became the latest country to cool its enthusiasm for joining the euro zone - a longtime strategic aim of successive governments in the Balkan state.

Bulgaria is also one of EU's least indebted members and is trying to stick to tight fiscal discipline to avoid risks to the lev currency, which is pegged to the euro.

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