Latest news with #SoutheastEurope
Washington Post
20-07-2025
- Climate
- Washington Post
Water tanks replace springs on a Serbian mountain as drought endangers some 1,000 cows and horses
SUVA PLANINA, Serbia — A severe drought this summer has left over 1,000 cows and horses without water on a mountain in southeast Serbia , forcing the authorities to bring up emergency supplies. The early drought that started in May has affected people, animals and crops throughout the Western Balkans , causing water and power restrictions, disruptions in river traffic and problems in agriculture in this part of southeast Europe.
Arab News
14-07-2025
- Politics
- Arab News
Saudi king, crown prince congratulate Montenegro and Kiribati on their special days
JEDDAH: Saudi Arabia's king and crown prince on Sunday congratulated President Jakov Milatović of Montenegro on his country's National Day celebration. In a cable, King Salman wished Milatović "continued good health and happiness, and the government and people of Montenegro steady progress and prosperity," the Saudi Press Agency (SPA) reported. Crown Prince Mohammed bin Salman, who is also the Kingdom's prime minister, sent a similar message in a separate cable, according to SPA. Earlier on Saturday, the king and crown prince greeted Kiribati President Taneti Maamau on his country's Independence Day, wishing him and his constituents steady progress and prosperity. Montenegro, located in southeast Europe, became part of Yugoslavia in 1918 during the realignment of nations after World War I. After Yugoslavia broke up in 1992, Montenegro formed a federation with Serbia, but opted later to become an independent republic in 2006. Kiribati, an island republic in the central Pacific, gained its independence from the United Kingdom in 1979. Both Montenegro and Kiribati are members of the United Nations.
Bloomberg
08-07-2025
- Business
- Bloomberg
How Bulgaria Got to Join the Euro, and What It Means
Eighteen years after Bulgaria joined the European Union, the bloc's finance ministers have finally cleared the way for it to adopt the euro currency in January 2026. The southeast European country would become only the second nation to join the euro in the past decade, after Croatia. Successive Bulgarian governments have overseen preparations for the change in the hope it will narrow a wide income gap with wealthier member states.
France 24
08-07-2025
- Business
- France 24
Bulgaria to get final green light to adopt euro in 2026
The European Commission last month said The EU's poorest country had fulfilled the strict conditions to adopt the euro, while the European Central Bank (ECB) also gave a positive opinion. Bulgaria's switch from the lev to the euro next year will come 19 years after the country of 6.4 million people joined the European Union. Bulgaria's journey to joining the eurozone has had a stormy political backdrop with seven elections in three years -- the last in October 2024. Its bid will be formally approved by EU finance ministers meeting in Brussels once they adopt the legal texts necessary for the historic move. But many Bulgarians are against switching to the euro over worries it will lead to a rise in the cost of living. Protests took place before and after the commission's decision, while surveys in the lead up showed nearly half of those asked are opposed to adopting the euro. Proponents in Bulgaria believe the move will help improve Bulgaria's economy and citizens' lives. The green light comes as the euro has been gaining in value against the US dollar as President Donald Trump's protectionist trade policies shake trust in the US currency. ECB chief Christine Lagarde in May made a pitch for the euro as a global reserve currency, saying increasing the currency's international role would offer advantages for the EU including lower borrowing costs for the bloc's member states. Euro club gets bigger Only 12 countries were part of the single currency area -- including France, Germany, Italy, Spain, and Greece -- when the first euro bills and coins were rolled out on January 1, 2002. It gradually widened with Slovenia joining in 2007, Cyprus and Malta in 2008, Slovakia in 2009, Estonia in 2011, Latvia in 2014 then Lithuania in 2015. Croatia was the last country to join in 2023, bringing the total to 20. Bulgaria wanted to adopt the euro sooner but Brussels judged its inflation was too high to meet the necessary criteria. EU states that want to join the single currency must demonstrate that their economy has converged with other eurozone countries and that they have their finances under control. The conditions include holding inflation to no more than 1.5 percentage points higher than the rate of the three best-performing EU countries. When Brussels gave its backing in June, it said Bulgaria's average inflation rate during the 12 months to April 2025 was 2.7 percent, just below the reference value. © 2025 AFP
Bloomberg
08-07-2025
- Business
- Bloomberg
EU to Give Final Nod to Bulgaria's Euro-Zone Entry Next Year
Bulgaria is set to clear the final hurdle to becoming the 21st member of the euro zone next year as European Union finance ministers meet Tuesday to sign off on its bid. Adopting the European single currency will be the culmination of nearly two decades of work toward accession, an ambition since Bulgaria joined the EU in 2007. The euro zone will recruit a new member as European Central Bank President Christine Lagarde raise the currency's global profile as US trade policy diminishes the standing of the dollar.
