Eurozone

|Full text of the analysis| |Official video presentation of the analysis| The eurozone suffers from deep structural problems that are hampering economic growth and leading to the accumulation of imbalances between member states, our new analysis shows. The common European currency is failing to achieve its main goals – ensuring faster growth and convergence in …

|Full text of the analysis| On July 7, 2023, the majority in the National Assembly rejected the holding of a referendum on preserving the Bulgarian lev as a currency and, accordingly, postponing accession to the eurozone until at least 2043. The Parliament rejected the referendum proposal formulated in this way, even though all legal requirements were met and …

DEAR LADIES AND GENTLEMEN OF THE PEOPLE'S REPRESENTATIVES, In connection with the upcoming consideration of the petition for organizing a referendum with the question "Do you agree that the Bulgarian lev should be the only official currency in Bulgaria until 2043?" in the parliamentary committee for civic participation, we express the following opinion on behalf of the Expert Club for Economics...

The introduction of the euro usually breaks fiscal discipline, causing government debt to increase. This phenomenon has been observed for a long time, since the very creation of the eurozone in the countries that founded it. Debt burden of a country The ratio of public debt to gross domestic product (GDP) in a country is the most appropriate indicator …

Last week, the economic experts of the Bulgarian National Bank surprisingly joined the Eurosceptic authors of this site. Judging by the working version of the BNB's part of the "Analysis of the Effects of the Introduction of the Single European Currency in the Republic of Bulgaria", the central bank agrees that the adoption of the euro would expose ...

At a parliamentary hearing last week, we witnessed yet another shameful circus regarding the issue of the future of Bulgaria’s currency regime. The Governor of the Bulgarian National Bank, Dimitar Radev, attempted to evade responsibility for providing an analysis of the consequences of Bulgaria’s potential accession to the eurozone. In …

In the context of the already numerous internal conflicts in the ruling coalition, which have been going on for months, another one has been brewing in recent weeks, this time regarding the possible introduction of the euro in Bulgaria from January 2024. At the beginning of the month, Finance Minister Assen Vassilev (from "We Continue the Change") tried to push for the introduction of ...

The transition from a currency board to a conventional monetary policy (the euro, for example) will, all other things being equal, contribute to an increase in the inflation rate in Bulgaria. Not only an initial change in prices as a result of rounding can be expected, but also a permanently accelerated inflation due to the change in the monetary regime. In all countries, …

The debate for or against adopting the euro concerns the fate of the leva as the Bulgarian national currency. From this point of view, it seems logical to support the opinions expressed with arguments from the monetary past. The monetary history of Bulgaria is a matter that does not lend itself easily to a short and meaningful presentation. It …

In the photo: Ivaylo Hristov, Deputy Minister of Finance Last week, at the two-day banking and financial forum of Manager magazine, another propaganda "discussion" was held regarding the pros and cons of Bulgaria joining the eurozone. I call it propaganda because this is another "discussion" in which only ministers, employers ...