Участието в третия етап на икономическия и паричен съюз – право и задължение
The Participation in the Third Phase of Economic and Monetary Union – Right and Obligation

Author(s): Teodora Petrova
Subject(s): Politics / Political Sciences, Politics, Economy, Law, Constitution, Jurisprudence, Business Economy / Management, Economic policy, EU-Approach / EU-Accession / EU-Development, Financial Markets, EU-Legislation
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: obligation; derogation; criteria; convergence; Economic and Monetary Union (EMU)
Summary/Abstract: With the introduction of the euro as a common currency, the European Union enters the third stage of the Economic and Monetary Union. In order to ensure the sustainability of the single currency and the Union as a whole, Member States must meet the Maastricht criteria set out in union primary law before becoming part of euro area. 25 years after the introduction of the euro in the European Union, only 7 out of 25 Member States are „Member States with a derogation“. This report highlights the temporary nature of the derogation regime and examines the conditions to be met for its repeal. Emphasis is also placed on Bulgaria’s progress on the path to adopting the euro.

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