Bulgaria and the euro government, notably economy minister Petar Dimitrov, have speculated about unilaterally introducing the euro, which was not well-met by the European Commission. The lev is not part of ERM-II, but since the launch of the euro in 1999, it has been pegged to the euro at a fixed rate of €1 = BGN 1.95583 through a strictly managed currency board. In all of the three latest annual assessment reports, Bulgaria managed to comply with four out of the five economic convergence criteria for euro adoption, only failing to comply with the criteria requiring the currency of the state to have been
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