Macroeconomic Monitor

2021.10.06

The Banking Union – not salvation, but a trap for Bulgarian taxpayers

October 1 marked exactly one year since Bulgaria officially joined the EU Banking Union. The accession was accompanied by great fanfare from public experts, politicians, and of course the government of Boyko Borissov himself, who in April 2020 announced Bulgaria’s accession to the ERM-II exchange rate mechanism and the Banking Union …

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