This will certainly contribute to the maintenance of macroeconomic stability. The third and final facet I want to touch upon concerns cooperation, and I would like to focus here on cooperation in the field of central banking. When I said earlier that the entrant does most of the adjustment, I meant most, not all.
The team also prepares for the entry of the new member. The European System of Central Banks (ESCB) has worked with Bulgaria to prepare it to join the EU and the ESCB, involving activities at many levels. An early example was the cooperation project involving the Bulgarian National Bank, the Banque de France and De Nederlandsche Bank.