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
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