The Bulgarian Cabinet recently had been under pressure from the EU and the US to discontinue the currency board.

The pressure to discontinue the currency board was motivated by the the fact that the European Central Bank (ECB) did not know how to let a currency board country join the euro zone, while there were said to be indications of possible threats from what was referred to as large players, to undermine the currency board in Bulgaria in the pursuit of profits.

Other factors not in favour of continuing the currency board were the high level of inflation, an unreal euro to leva exchange rate and the low productivity in the country, Focus news agency said.

Quoting Bulgarian weekly 168 Chasa, Focus news agency said Bulgarian Finance Minister Plamen Oresharski firmly believed the country should keep the currency board until it would join the euro zone and adopt the single European currency.