Bulgaria will wait “probably a number of additional years, until the dust settles” before seeking to join the euro, Finance Minister Simeon Dyankov said, according to his ministry.
Dyankov was speaking in Washington DC on February 14 at an event organised by the Peterson Institute for International Economics.
Referring to the “dynamic situation” in the European currency union, Dyankov said, “If I start the path of entry, I don’t know exactly what I’m entering and we are basically going to wait”.
He welcomed the plan agreed in December on a single supervisor for euro zone banks, saying that this was a step in the right direction, but was not enough.
At the same time, Dyankov reiterated Bulgaria’s opposition to the idea of the EU adopting a policy of tax harmonisation across the bloc. Bulgaria has the lowest rate of corporate and personal income tax in the EU, at 10 per cent.