Author Topic: Bulgaria next in line to introduce the euro  (Read 2771 times)

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Offline eurocoin

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Bulgaria next in line to introduce the euro
« on: April 27, 2018, 07:32:18 PM »
Pierre Moscovici, European Commmisioner for Economic and Financial affairs has said that Bulgaria will be the next country to introduce the euro when the time is ripe. That will still be at least 2 years from now. Bulgaria announced in January that it wants to join the eurozone.

Offline chrisild

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Re: Bulgaria next in line to introduce the euro
« Reply #1 on: September 19, 2021, 11:18:16 PM »
According to the current schedule, Bulgaria could become a euro country on 1 Jan 2024. According to this Spiegel article (from the latest print issue, here in an English version), some in the EU are not all that happy about the plans ...

Offline Figleaf

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Re: Bulgaria next in line to introduce the euro
« Reply #2 on: September 20, 2021, 10:45:38 AM »
Good article. On one side of the balance is the corruption that reminds people of how Greece got away with doctored stats. On the other side of the balance is that accession to the euro will bring government budget discipline and tame inflation, increase wealth and thereby be to the detriment of populism.

That makes the question one of risk analysis: how far can you trust future Bulgarian governments to stay within the limits. The obvious solution is politically difficult: giving the ECB real power to intervene in money creation and destruction. If the other member-states - or their finance ministries - would be willing to yield some power, the balance of risk could be changed enough to make Bulgaria's accession attractive. A far more painful solution would be to agree on a procedure to kick a member-state out of the euro. Doing nothing would solve nothing.

Peter
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline eurocoin

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Re: Bulgaria next in line to introduce the euro
« Reply #3 on: September 20, 2021, 11:06:00 AM »
Of course in the meantime it has become clear that it is Croatia that will be first, not Bulgaria. Bulgaria as a country is not worth it to enter the eurozone and I foresee only trouble. Though as a collector, of course it will be interesting to see their euro coins.