Dyankov for BBC: Bulgaria Has the Euro Negatives, Now We Want the Benefits Too
Along with attacking Europe's failing framework amids the euro crisis, Bulgaria's finance minister has made it clear the country will pursue with zeal entry into the currency union, so that it can reap its benefits as well.
"The Bulgarian currency the lev has been tied to the euro since 1999, so in a way we are already in a situation where it is as if we have the euro and all of its recent negatives. But we don't have the main positive, which is actually having the euro bills," Simeon Dyankov told BBC World Service's Business Daily on Friday.
On the markets investors have been demanding ever higher interest rates for lending money to other eurozone governments, which are also saddled with huge deficits. The cost of their borrowing has risen to record highs this week and the value of the euro itself has fallen.
Bulgaria would and does want to join the currency union, despite its disturbing problems and the warnings that it is in danger of cracking up, Dyankov assured. He pointed out that some recent entrants like Slovakia have shown that once we have that interest rates fall quite considerably.