monetary policy

At first glance, monetary relations are not the most suitable environment in which honesty and trust thrive. Again, at first glance, when it comes to money, the selfishness and greed inherent in everyone are exposed. However, the intuition at first glance is not accurate. In order for money and the institutions related to it to exist, a certain …

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 …

About a month ago, the Bulgarian online media outlet “Factcheck.bg” published an article with the following title: “Bulgaria in the Eurozone: Between Misconceptions and Facts”. Under the guise of combating disinformation, the author of the article, Yordan Barzakov, claims to be debunking “myths” about the “negatives of eurozone membership”. The introductory paragraph of the text is eloquent: “The closer it gets …

OPINION From: Expert Club for Economics and Politics (EKIP) Subject: Draft National Plan for the Introduction of the Euro in the Republic of Bulgaria DEAR LADIES AND GENTLEMEN, In connection with the published draft National Plan for the Introduction of the Euro in the Republic of Bulgaria (Plan), we express the following opinion on behalf of the Expert Club …

On 22.06.2021, the EQUIP sent a letter addressed to the President, the Prime Minister, the Minister of Finance and the Minister of Economy. Addressing President Radev directly, we called for a careful assessment of the potential risks for Bulgaria related to the possible accession to the eurozone. To this day, institutions such as the Ministry of Finance …

EKIP: Dear readers, we present to your attention an extremely valuable analysis of the "Theory of the Optimal Currency Area" and Italy's experience in introducing the euro. There are many useful things that can be learned from the experience of other countries in joining the eurozone, from which Bulgaria should learn a lesson. On …

This text was originally published in the collection "2020: Inside and Beyond" Every intricate story has to start somewhere. In this one about the super-massive printing of money, that moment is in 2008, and the starting point is the United States. To get to the answer to the question of why central banks are printing more today …

Author: Yaroslav Romanchuk Group and class interests are tearing apart the foundations of the institutions of freedom and the market. Women, sexual minorities, racial, religious, environmental, ethnic and all sorts of different groups are demanding their rightful place not only in the system of governance, but also in the management of business and international public organizations. The tyranny of …

Author: Steve Hanke Earlier this year, we witnessed a dramatic slowdown in Bulgaria’s headlong rush to abandon the leva and adopt the euro. Prime Minister Boyko Borisov sensed that Bulgarian society was not in favor of being included in the European Monetary Mechanism ERM-II. The year 1997 was both the worst and the best …