The Executive Board of the ABB welcomes the efforts of the country to join to the Exchange Rate Mechanism – ERM II. This process should be led in entirely clear and transparent way for the Bulgarian society. We express our confidence that the approach undertaken by the Bulgarian Parliament today provides the necessary guarantees that Bulgaria is going to maintain the current fixed exchange rate of the Bulgarian lev to the euro till the adherence of the country to the euro area. The undertaken steps are in that direction and they guarantee keeping the stability of the Bulgarian economy. We support the position that Bulgaria is not going to participate in the exchange rate mechanism at exchange rate between the euro and the Bulgarian lev different than the current fixed exchange rate – 1.95583 BGN for 1 EUR.