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
Tourism in Bulgaria are around 4,500 discovered underground formations in Bulgaria. The earliest written records about the caves in Bulgaria are found in the manuscripts of the 17th century Bulgarian National Revival figure and historian Petar Bogdan. The first Bulgarian speleological society was established in 1929. The caves in the country are inhabited by more than 700 invertebrate species and 32 of the 37 species of bats found in Europe. Most visitors arriving in Bulgaria on short-term basis came from the following countries of nationality: Tourism in Bulgaria Tourism in Bulgaria is a significant contributor to the country's economy. Situated at the crossroads