Leaders from the European Union (EU) consented to Bulgaria's demand to spell the common European currency in Cyrillic as "evro", Portugal's Foreign Minister Louis Amadu was quoted by France Presse news agency as saying.
The decision, taken at a meeting of EU foreign ministers on October 19, represents an agreement in principle. In effect, it will broker Bulgaria's greenlight for the EU's Stabilisation and Association Agreement (SAA) with Montenegro for the recognition that the transliteration of "euro" in Cyrillic is "evro".
The solution comes days after Bulgaria threatened to block the signing of the Stabilisation and Association Agreement (SAA) between Montenegro and the European Union unless its euro spelling demand was met.
The European Central Bank considers the currency a unique brand and demands spelling of the currency to be identical in all member states.
The question of whether Bulgaria would be able to use "evro" on banknotes if it enters the single currency zone, something that is not expected until well after 2010, remains open, Reuters said.