© Reuters. ECB could take more than one year to assess Bulgaria’s banking union bid: Coeure
BRUSSELS (Reuters) – Bulgaria should send a request soon to join the banking union, a preliminary step before euro membership, and the assessment of its progress could take more than one year, European Central bank board member Benoit Coeure said on Thursday.
A request to join the banking union “should be sent within days to the European Central Bank,” Coeure told a news conference after a meeting of euro zone finance ministers that welcomed Bulgaria’s preliminary commitments to join the bloc’s banking project meant to strengthen lenders’ monitoring and financial stability.
The assessment of Bulgaria’s progress should last around one year, “but if there is need for more time, that could be more than one year,” Coeure added.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Latest posts by investing.com (see all)
- Forex – Australian Dollar Steady After RBA Decision - June 4, 2019
- Yuan Watchers Say 7 Is No Longer a Sticking Point for China - June 4, 2019
- Fresh Losses Coming for Australian Dollar, Strategists Say - June 4, 2019