ECB could take more than one year to assess Bulgaria's banking union bid: Coeure


© 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.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

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.

Comments

comments