14/04/2020 (Agence Europe) – Bulgaria wants to speed up its process of accession to the euro area in order to benefit, if necessary, from the financial assistance from the European Stability Mechanism (ESM), reserved for countries that have adopted the single currency, in the context of the fight against the COVID-19 pandemic (see EUROPE 12465/2). “Those in the euro area will have billions at their disposal”, said Bulgarian Prime Minister Boïko Borissov on Saturday 11 April, AFP reported. According to Mr Borissov, joining the ERM II exchange rate mechanism, a prerequisite to joining the euro, would make it possible for the ESM to provide assistance. “We continue to follow the adopted plan”, Finance Minister Vladislav Goranov said on the same day, after the country's central bank announced at the end of March that more time was needed. Bulgaria will have to join both the ERM II mechanism and the banking union at the same time (see EUROPE 12062/25). (MB)