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
Energy in Bulgaria Energy in Bulgaria Energy in Bulgaria describes energy and electricity production, consumption and trade in Bulgaria. Although Bulgaria is not very rich in fossil fuels such as coal, oil and gas, it has very well developed energy sector which is of crucial importance for the Balkans and the whole South Eastern Europe. Nuclear power produces 36% of Bulgaria's power. Bulgaria is a major producer and exporter of electricity in the region and plays an important role in the energy balance on the Balkans. The country's strategic geographical location makes it a major hub for transit and distribution of oil and