Russia Fails to Meet Bond Obligations, Triggering Swaps Payout

Reuters

Factbox-Six EU countries not ready to adopt euro currency -Commission

Six of the seven EU countries outside the euro zone are still not ready to join, the European Commission said in a report on Wednesday, with only Croatia meeting all the criteria to start using the EU currency from 2023. The country’s central bank laws are not compatible with euro zone legislation on the European Central Bank and Bulgaria’s inflation is too high. It does, however, meet the requirements on public finances, exchange rate and the convergence of long-term interest rates.