In some countries, namely Bulgaria, the extent of hyperinflation and currency substitution left little alternative to the authorities but to accept the reality and move to a hard peg in the form of a currency board linked initially to the Deutschemark and now to the euro. Similar regimes were also imposed on Bosnia, after the Dayton Accord, and Kosovo.
The euro is an appropriate anchor for an exchangerate-based policy in these countries, as they are closely integrated with the countries of the eurozone. Most of their transactions, not only trade-related, but also workers' remittances, official transfers and financial transactions are with countries of the eurozone. A measure of macroeconomic success is the receding level of currency substitution.