The European Union promises a quick resolution of the problem with the name of the European currency in texts in Bulgarian.

Bulgaria insists on spelling the name as "evro" as Bulgarian linguistics would have it and as the word already exists in the language. The European Central Bank’s wants to have a single spelling of the name as "euro" in all EU member states.

The European Commission (EC) admitted the existence of the problem on October 12 when Bulgaria protested against the "euro" spelling in the Bulgarian translation of the agreement for EU association of Montenegro. Bulgaria threatened to block the agreement, but local authorities and the EC agreed on a compromise, substituting the name of the currency with its abbreviation.

On a meeting on October 15 2007, EU ambassadors approved a declaration admitting the existence of a linguistic problem. The ambassadors settled on a resolution of the problem in accordance with the 1995 Madrid summit's decision on naming Europe's currency, Reuters reported.

Reuters quoted a Bulgarian spokesperson as saying that the declaration had been approved without discussions and reservations.

According to diplomats, the declaration was acceptable to Bulgaria and it would agree to sign the Montenegro association agreement.

Diplomats said Prime Minister Sergei Stanishev would announce later in the week that Bulgaria would not sign the European contract, which was to replace the EU constitution in December 2007, unless the "evro" problem would be solved.