Bulgaria hestitant about introducing euro

The Bulgarian government has announced that it wants more time before converting to the euro. There is not yet a social consensus on the country applying to join the exchange rate mechanism (ERM2), Prime Minister Boyko Borisov said on Tuesday. Commentators examine the advantages of the single currency and the reasons for scepticism.

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24 Chasa (BG) /

Citizens have good reason to distrust their state

The Bulgarians have good reason to be wary regarding the government's plans, 24 Chasa counters:

“It's only normal for Bulgarians to be sceptical about any fundamental change imposed by the state that affects their lives. After all, in all the years since the fall of communism they've been constantly tricked and lied to. They've paid from their own pockets for failed banks and the catastrophic consequences of several extremely incompetent governments, as well as the mafia-like privatisation and plundering of the state. ... Bulgarians live day and night with the feeling that someone is constantly trying to cheat them out of something. And it's not just a feeling: it's a bitter reality.”

Dnevnik (BG) /

Euro will make the country attractive

Bulgaria shouldn't waste any more time, Dnevnik urges:

“The euro will improve the Bulgarian economy's long-term prospects. It will give us a strong, international currency, the stability of which will be guaranteed by the ECB's monetary policy and banking supervision. This policy is carried out professionally rather than being influenced by domestic political intrigues. That will certainly improve the business climate and institutional conditions in Bulgaria, and as a knock-on effect it will also increase domestic and foreign investors' confidence in the state.”