Euro troubles face Bulgaria, Baltic

EU

Bulgaria and Baltic states will have difficulties living up to the prerequisites of joining the Euro-zone, according to experts.

Bulgaria and the Baltic states will have difficulties meeting the criteria for joining the Euro-zone, Juraj Kotian, expert from the research center of the Erste Bank Group in Austria said, cited by the Austrian daily Die Presse. According to Kotian, there is no danger for rapid rise of prices. In any case, the rate of increase in Central and Eastern Europe is increasing, but there is no ground for fears. The levels of inflation in Slovakia for this year will reach 3.3%, and that in the Czech Republic and Romania – 6.1%. In contrast to countries, where there is a floating exchange rate, Bulgaria and the Baltic states, which rely on fixed exchange rate, will have difficulties alleviating the inflation load. (Focus News, Bulgaria)

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