This Convergence Report has been prepared following a request for a country examination submitted by Bulgaria on 25 February 2025. In producing this report, the ECB fulfils its requirement under Article 140 of the Treaty on the Functioning of the European Union to report to the Council of the...

This Convergence Report has been prepared following a request for a country examination submitted by Bulgaria on 25 February 2025. In producing this report, the ECB fulfils its requirement under Article 140 of the Treaty on the Functioning of the European Union to report to the Council of the...

The euro is meant to be the single currency of the European Union as a whole. It is currently used every day by around 350 million people in the 20 Member States of the euro area. The practical benefits include more stable prices, lower transaction costs for people and businesses, more...

The article reviews the latest version of the proposal for a new Stability and Growth Pact of the European Union, as accepted by the European Parliament in April 2024. After summarising the main changes, the macroeconomic evaluation attempts to gauge whether the main goal of the Pact –...

The euro has already been introduced in 20 of the 27 EU Member States. This report examines six of the seven Member States that have yet to adopt the single currency, namely Bulgaria, Czech Republic, Hungary, Poland, Romania and Sweden. These countries are committed under the Treaty on the...

The euro has already been introduced in 20 of the 27 EU Member States. This report examines six of the seven Member States that have yet to adopt the single currency, namely Bulgaria, Czech Republic, Hungary, Poland, Romania and Sweden. These countries are committed under the Treaty on the...

This paper reviews the main arguments underpinning the reform of the EU's fiscal framework, which has culminated in the adoption by the EU legislators of a revised set of rules for the European economic governance including the Stability and Growth Pact (SGP). It takes a chronological approach...