Open AccessBULGARIAN ECONOMIC DEVELOPMENT AND EU INTEGRATION
Author(s) -
Iskra Christova-Balkanska
Publication year - 2017
Publication title -
zbornik radova/zbornik radova - journal of economy and business
Language(s) - English
Resource type - Journals
eISSN - 2712-1097
pISSN - 1840-3255
DOI - 10.46458/27121097.2017.si.21
Subject(s) - bulgarian , convergence (economics) , maastricht treaty , member states , economic and monetary union , european union , economics , economic integration , element (criminal law) , standard of living , treaty , international trade , economic union , international economics , european integration , economic system , political science , macroeconomics , market economy , philosophy , linguistics , law
The present research is devoted to the "economic catch-up" and the convergence of the macroeconomic indicators and the living standards of Bulgaria and the new EU Member States from Central and Eastern Europe with those of the developed economies of the EU. It is clarified that the economic and social development and territorial integrity of the EU are dependent on the successful convergence of the Member States and not only on that of the separate levels. With the entry into force of the Maastricht Treaty, compliance with the nominal economic indicators becomes a prerequisite for entry into the euro area. The establishment of the Economic and Monetary Union (EMU) is the most significant element of economic integration into the EU. The question arises: to what extent does the EMU contribute to the economic convergence of the Member States? The main question remained how do the economic development of Bulgaria is assisting the convergence process of Bulgaria to the EC economies.