Bulgaria and the euro Bulgaria and the euro Bulgaria committed to switching its currency, the lev, to the euro upon its joining the European Union in 2007, as stated in its EU accession treaty. The transition will occur once the country meets all the euro convergence criteria; it currently meets three of the five criteria, the exception being its membership for at least two years of the EU's official exchange rate mechanism (ERM II), which it has not yet joined despite the Bulgarian lev having been pegged to the euro since its introduction in 1999. In 2011 Bulgaria's Minister of Finance Simeon Djankov stated
What Is This? following week. The group decided to change their name to the Red Hot Chili Peppers, played several more shows at various L.A. clubs and musical venues, and eventually recorded a demo tape, all while Slovak and Irons were still playing with What Is This?. A few months later, What Is This received a record deal with MCA Records and the Red Hot Chili Peppers received a joint deal with EMI America and Enigma Records. Hillel Slovak and Jack Irons decided to leave the Red Hot Chili Peppers and stay with What Is This? as the latter was their primary musical