The Eastern Enlargement of the EU

The Eastern Enlargement of the European Union is an extraordinary European achievement. It becomes possible, due to a series of compromises among the Member States, based on their national interests. Taken in their entirety, although important on their own right, they give shape to an inconsistent enlargement policy.

Rethinking the European Union?

Papers from the IVth scientific conference of the Dept. of European Studies at Sofia University, 2017. [...]

Perspectives for Adoption of the Euro in the Western Balkans

Authors: Assoc. Prof. Kaloyan Simeonov, Anna Pecheva, Lilian Nikiforova, Slaveya Bizheva   [...]

Nature and History of Monetary Unions

Author: Assoc. Prof. Kaloyan Simeonov           [...]

60 Years Anniversary of the Signing of the Treaties of Rome

The Embassy of the Republic of Italy in Sofia and the Italian Cultural Institute organized a round table on 10 March 2017, [...]

Nature and History of Monetary Unions

Author: Assoc. Prof. Kaloyan Simeonov






Since the establishment of the Euro-area in the beginning of 1999, interest towards the development of monetary unions has been on the rise. The Economic and Monetary Union of the EU has been the most developed multinational union, which has unique characteristics and has become a model for regional economic and monetary integration.

In order to comprehend fully the Euro-area, it is necessary to know the nature and the history of monetary unions. Some of those unions do not exist on the map anymore, others are still functioning today, while there are plans for establishing new monetary unions in some regions of the world. The forecasts for the development of the Euro-area vary between the two extremes: from the possibility of its rapid disintegration to the probability that the latest economic and financial crisis will trigger reforms, whereby the Economic and Monetary Union will be effectively complemented by a completed economic, fiscal, financial and political union among the Member States.

The analysis on the topics, related to the Euro-area, is important also because of the fact that Bulgaria needs to prepare for adoption of the single currency. Since the onset of the debates for a two- or multi-speed Europe, and for a Union divided into core and periphery, the accelerated accession of Bulgaria to the Economic and Monetary Union becomes all the more topical and necessary.