On Pluses of Bulgaria’s Eurozone Accession
Mr. Boris Petrov, a long-year high ranking official of the Central Bank of Bulgaria /BNB/ says that the current political situation shouldn’t be misleading: Bulgaria has not only taken the responsibility to implement the euro, just like any new EU member-state, but it also has the economic interest to hurry up.
“Bulgaria needs to enter the Eurozone as soon as possible. One way or another, we are fixed to the euro, but at the moment we bear mainly the negative side and all the financial crises of that mechanism. On the other hand, we do not use the profits and we are not part of the decision-making process in terms of financial policy. The other list of advantages: a fuller integration of the bank sector, banks have access to cheaper funding by the European Central Bank /ECB/ which might be transferred to the real sector – users and investors.”
BNR