No Eurozone for Bulgaria again
Bulgaria is not meeting the inflation stability criteria for Eurozone membership, according to regular convergence reports of the European Commission and the European Central Bank, published on Wednesday. They are prepared every two years and assess the readiness of member countries outside the euro area to join it.
The news is scarcely a surprise, as the reports only make it official that the much heralded date of January 1, 2025 cannot be met for adopting the euro.
More unexpectedly, the two institutions' estimates of inflation differ. According to the EC, inflation in the country for the 12 months to May is 5.1%, exactly one percentage point above the reference value of 4.1%. However, the ECB calculates the reference value for inflation at 3.3% or 1.8 percentage points below that of Bulgaria.
WCC-DB splits in the EU parliament
Two MEPs from the WCC-DB - Nikola Minchev and Hristo Petrov - will join the Renew Europe European parliamentary group, announced the party's Facebook page.
The party - a liberal, pro-European political group of the European Parliament - boasted that Minchev and Petrov will join the grouping alongside Mark Rutte, Emmanuel Macron and Kaya Callas. Minchev was quoted as saying that the two of them gave their support for Valery Ayer to chair the parliamentary group.
The third Bulgarian representative of the coalition in the European Parliament is Radan Kanev, who joined the group of the European People's Party at his last mandate.
Tiger secures 2 million euros
The Bulgarian software company Tiger Technology, which develops solutions for the shared use of local and cloud services, has received 2 million euros in the form of convertible debt. Of the total amount, 400 thousand euros come from the ImPuls III fund, and the rest is from so-called business angels. This is the third consecutive round of a similar size for the company - in 2019 it raised 2.3 million euros, and at the beginning of 2023 - another 2 million euros.
Tiger Technology products enable quick access to files in the cloud that do not have a copy on a local server. These files can be accessed by multiple users at the same time, making the Bulgarian company popular in the media industry worldwide, with clients such as Disney, Universal, MTV, Sky, Financial Times and others.
No Eurozone for Bulgaria again
Bulgaria is not meeting the inflation stability criteria for Eurozone membership, according to regular convergence reports of the European Commission and the European Central Bank, published on Wednesday. They are prepared every two years and assess the readiness of member countries outside the euro area to join it.
