Comparison Between Bulgaria and Croatia in their Road Towards ERM II and The Banking Union of the EU

Authors

  • Assoc. Prof. DSc Kaloyan Simeonov Department of European Studies, Faculty of Philosophy, Sofia University St. Kliment Ohridski Author

DOI:

https://doi.org/https://doi.org/10.37075/RP.2021.5.12

Keywords:

ERM II, Exchange rate mechanism, Euro area, Banking union of the EU
E02

Abstract

The last ERM II accession before July 2020 was in 2005. After the establishment of the Banking Union of the EU, starting from 2014, there was no enlargement of ERM II by EU Member State that is outside the Euro area. Therefore, the accession on 10 July 2020 of Bulgaria and Croatia to the ERM II on one hand and to the Banking Union on the other hand through the mechanism of the so-called close cooperation with the ECB represents a particular interest. The participation in these two mechanisms is a precondition for the accession to the Euro area and the adoption of the single currency. The comparison between the two countries shows that their path to the ERM II and the Banking Union is quite similar. However, there are also few peculiarities.

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Published

2021-12-02

Issue

No. 5 (2021)

Section

Articles

License

Copyright (c) 2021 Kaloyan Simeonov (Author)

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Authors retain copyright to their works.

All publications are distributed under the terms of the Creative Commons Attribution 4.0 International (CC BY 4.0) license.

How to Cite

Simeonov, K. (2021). Comparison Between Bulgaria and Croatia in their Road Towards ERM II and The Banking Union of the EU. Research Papers, 5, 263-276. https://doi.org/https://doi.org/10.37075/RP.2021.5.12