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Georgi Ganev: Joining the eurozone is not tied to us in a towel. We must distinguish between the assessments of the ECB and the EC

Fears about the euro are being instilled by certain political forces and the question is why these false statements are taking root in Bulgarian society. The reason is that people have great distrust in the authorities and this leads to the acceptance of these untruths, the economist commented

Feb 25, 2025 18:36 32

Georgi Ganev: Joining the eurozone is not tied to us in a towel. We must distinguish between the assessments of the ECB and the EC  - 1

Joining the eurozone is not tied to us in a towel. We must distinguish between the assessments of the ECB and the EC. What started today is the start of the procedure that will answer the question of whether we are ready for the eurozone. After all, the signals are positive and most likely on January 1, 2026, we will become members of the eurozone. The assessments of the ECB and the EC should be released in June and Bulgaria will have the completely normal period of 6 months to prepare for its membership in the eurozone.

This was stated in "Denyat na Zivu" on NOVA NEWS economist Georgi Ganev, quoted by novini.bg
"There is a majority in parliament for the adoption of the euro. The deputies have also adopted the necessary laws. Fears about the euro are being incited by certain political forces and the question is why these false statements are taking root in Bulgarian society. The reason is that people have great distrust in the authorities and this leads to the acceptance of these untruths. The fact is that we need to talk honestly with people. There is a possibility in Bulgaria for a small pro-inflationary effect, but it will disappear literally in months. The fact is that there are some weaknesses and problems in the eurozone, but Bulgaria will have so many more positives from adopting the euro that there is nothing to talk about the negatives. The Bulgarian budget has enough buffers with which to compensate for those who may have suffered from the pro-inflationary effect. But it will be very small. If inflation is 0.5%, after entering the eurozone it will be 0.6%. "The Croatians did a number of mischiefs and this led to an increase in inflation. One of the stupid things they did was to introduce a price ceiling, which led to a deficit and an increase in prices," Georgi Ganev revealed.