ECB prepares to supervise largest Bulgarian banks

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The ECB’s Frankfurt headquarters

The European Central Bank is moving to become more closely involved in supervising banks in Bulgaria, following a request by the country’s government in July.

The move comes as Bulgaria’s government steps up its efforts to join the euro. Bulgaria is one of nine countries that are members of the European Union but are not part of the eurozone.

On August 22, the Bulgarian government approved an action plan to meet the conditions set by the European Union’s institutions for joining the single



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