Market
Bulgaria unemployment rate below 5% in 2025 post-Schengen entry?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official Bulgarian government labor statistics or Eurostat
Story
Romania and Bulgaria Join Schengen Area in 2025, Boosting Economies
Dec 12, 2024, 09:31 AM
Romania and Bulgaria have been granted full membership to the Schengen Area by the European Union, effective from January 1, 2025. This decision, made by EU interior ministers, marks the end of a nearly two-decade process that began when the European Commission declared both countries ready to join in 2011. The accession will eliminate internal land border controls, facilitating free movement within the Schengen zone. Austria, which had previously blocked their full entry citing concerns over uncontrolled migrant movements, has now lifted its veto. The move is expected to boost the struggling economies of both nations, although it comes with the condition that they must ensure a certain level of control at their external borders with non-EU countries.
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