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Bulgarian Prime Minister Boiko Borisov (left) with European Commission President Jose Manuel Barroso (Photo: European Commission)

'Hidden contracts' force Bulgaria to delay eurozone entry

A slew of previously unaccounted for "hidden contracts" has forced the Bulgarian government to adjust its 2009 budget deficit figure and delay its timetable for joining the European single currency.

Speaking on Sunday (11 April) however, Bulgarian finance minister Simeon Djankov said the revelations would delay rather than end the country's eurozone ambitions, with an application to join the euro's Exchange Rate Mechanism-II (ERM-II) waiting chamber still possible by January 2011.

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Bulgarian Prime Minister Boiko Borisov (left) with European Commission President Jose Manuel Barroso (Photo: European Commission)

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