The Global Challenges to “Two-Speed” Integration in the EU: Problems and Prospects for Bulgaria's Participation in the Economic and Monetary Union
The Global Challenges to “Two-Speed” Integration in the EU: Problems and Prospects for Bulgaria's Participation in the Economic and Monetary Union

Summary/Abstract: The paper discusses the current problems of the integration in the EU in the context of the ongoing restructuring of the global economy and its institutional order under the pressure of rising economic nationalism and protectionism. The differentiated integration conducted in EMU outlines the challenges for Bulgaria from the integration at "two speeds" in the EU. The problems of overcoming the crisis of the current EU integration model are being considered in the context of the ongoing reforms. By revealing the main trends in the world economy the paper discusses the impact of global changes on the European integration. The difficulties in reforming the completion of the Economic and Monetary Union are evaluated as a bottleneck to the further enlargement of the EMU. The opportunities and perspectives of Bulgaria's inclusion in the EMU are outlined.

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