Now that 19 EU countries are using the euro and a further four microstates are issuing euro coins, which will be the next country to do so?
Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Iceland, Poland, Romania, Sweden, United Kingdom.
My vote is for Croatia.
What prevents Bulgaria from joining the ERM II earlier as they already have their lev pegged to the euro?
I think that Poland, the Czech Republic, Hungary, Romania, Bulgaria and Croatia will adopt the Euro once these countries meet the Maastricht criteria.
Currently, Bulgaria does not meet the criteria to join ERM II. In January Bulgaria's finance minister Vladislav Goranov declared: "(We will be asking) when and against what, against what structural measures they will be ready to allow Bulgaria into ERM II," Goranov told reporters in Lithuania.
Here is an interesting article about Denmark's participation in the ERM II: