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
Ottoman Bulgaria albeit far smaller than what Bulgarians had hoped for and what was originally proposed in the Treaty of San Stefano of 1878. Ottoman Bulgaria The history of Ottoman Bulgaria spans nearly 500 years, from the conquest by the Ottoman Empire of the smaller kingdoms emerging from the disintegrating Second Bulgarian Empire in the late 14th century, to the Liberation of Bulgaria in 1878. As a result of the Russo-Turkish War (1877–1878), the Principality of Bulgaria, a self-governing Ottoman vassal state that was functionally independent, was created. In 1885 the autonomous province of Eastern Rumelia came under the control of the