Is it a good idea to join the Eurozone?: Debate on bTV

Defending the position "against" Bulgaria's possible entry into the Eurozone, our editor-in-chief Georgi Vuldjev entered into a debate with former Deputy Prime Minister and Minister of Economy Nikolay Vassilev on bTV. According to Vuldzhev, the negatives of entering the Eurozone far outweigh the potential positives:

If Bulgaria joins the Eurozone, which means abolishing the currency board, we risk going the way of Greece. Especially considering the increasingly irresponsible fiscal policy of the government in recent years - a problem we have written a lot about. Joining the Eurozone is not a panacea and will not in itself help us reach the most developed European countries.

Moreover, contrary to expectations, joining the Eurozone will not actually increase banking supervision and restrictions on banks in Bulgaria. On the contrary, one can rather expect a loosening of banking discipline, in addition to a loosening of fiscal discipline. This could turn out to be a disastrous combination for Bulgaria, given the level of corruption in our country. Watch the video for more details.

Video source: bTV

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