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Saturday, June 22, 2024

Bulgaria, transition to the wuro currency in 2024. Commentary by Rosica Wełkowa.

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The report on Bulgaria’s readiness to adopt the euro was not considered, although such an item was on the agenda, said Finance Minister Rosica Velkova. She added that, contrary to her earlier announcement, Bulgaria will not adopt the euro at the beginning of 2024. She did not rule out that this could happen later in 2024, but “it is rather doubtful.”

The minister informed at a press conference that the preparedness report had not been considered at the Eurogroup meeting earlier this week Bulgaria to adopt the euro, although this was on the agenda.

Potential referendum on adopting the euro

Rosica Velkova explained that Bulgaria did not yet meet the required level criterion inflation and failed to implement the legal changes necessary to adopt the new currency. The nationalist party Vazrazhdane – opposed to the single currency – is currently collecting signatures for a referendum on adopting the euro. Nearly 300,000 have been collected so far. At least 500,000 signatures are required to announce a referendum. Polls indicate that Bulgarian society is rather skeptical about the idea of ​​introducing the euro.

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Read also: Euro in Poland? “It’s a one way road”

Main photo source: stoyanh / Shutterstock.com

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