Greece the European Communities and the single market was signed, and the process was completed in 1982. Greece was accepted into the Economic and Monetary Union of the European Union on 19 June 2000, and in January 2001 adopted the Euro as its currency, replacing the Greek drachma at an exchange rate of 340.75 drachma to the Euro. Greece is also a member of the International Monetary Fund and the World Trade Organization, and is ranked 24th on the KOF Globalization Index for 2013. By late 2009, as a result of a combination of international and local factors, the Greek economy
Bulgaria and the euro how to let a country using a currency board join the euro. The Prime Minister has stated the desire to keep the currency board until the euro was adopted. However, factors such as a high inflation, an unrealistic exchange rate with the euro and the country's low productivity are negatively affected by the system. Simeon Dyankov, Bulgaria's then-finance minister, said in September 2009 that Bulgaria planned to enter ERM II in November 2009, but this was delayed. It was then delayed further due to an increased budget deficit, outside the Maastricht criteria. Since 2011, Bulgaria's non-membership of the ERM has