Bulgaria and the euro a stable ERM-II member for a minimum of two years. While Bulgaria has not formally joined the exchange rate mechanism, the ±15% floating band permitted within ERM II is less restrictive than Bulgaria's current strict peg of 1.95583 BGN to 1 EUR. The lev has been pegged to the euro since its launch, and prior to that was pegged on par to the German Mark. While the currency board which pegs Bulgaria to the euro has been seen as beneficial to the country fulfilling criteria so quickly, the ECB has pressured Bulgaria to drop it as it did not know
Union of Communists in Bulgaria Union of Communists in Bulgaria The Union of Communists of Bulgaria (', SKB) is a communist party in Bulgaria, registered in 1995. It has participated in all elections since then, alone or in coalition. The central headquarters of the party is at Sofia, Georgiev Evlogi № 169. On June 23, 2013, the Central Committee of the Union of Communists in Bulgaria accepted the resignation of its current chairman Kostadin Chakarov (2010-2013), a former adviser to Todor Zhivkov, and elected by an overwhelming majority Pavel Ivanov as the new chairman of the party. The Union of Communists takes its name from