International status and usage of the euro

Bulgaria's plan to adopt the euro and become a member of the eurozone holds far-reaching implications, especially for the economy, political scene, and international relations; the Southeast European nation is looking to improve its economic conditions and become a recognised voice in the European Central Bank (ECB).

Bulgaria and the Euro

In a significant move toward Eurozone accession, Bulgaria's Council of Ministers has announced that, one month after the official entry date into the Eurozone is disclosed, shop prices will be displayed in both Bulgarian Lev (BGN) and Euro. This dual pricing strategy is set to continue for a year after the Euro becomes the official currency.

FRANKFURT - The euro is not a legal tender in the so-called Kosovo as Pristina unilaterally adopted it as the de facto currency in 2002, the European Central Bank (ECB) website says.

It notes that Montenegro, which is also not an EU member, did the same in 2002.

The euro is about to celebrate its 20th birthday, but the countries that use it are still wrestling over how the shared currency should work and how to fix flaws exposed by the debt crisis that marred its second decade.

Investors seek to be less exposed to the fluctuations of the Eurozone, by restructuring their portfolios, while, according to the Wall Street Journal, the Euro is being pressured, propping up the value of the US dollar.