In connection with the adoption of the euro in Bulgaria, the National Assembly decided the Council of Ministers, in coordination with the BNB, to speed up consultations and negotiations with the European institutions, the Member States whose currency is the euro and the countries participating in the exchange rate mechanism. This became clear after MEPs voted on a draft decision on the adoption of the euro in our country. The people’s representatives voted with 157 votes “in favor”, “against” 28, “abstentions” 23.
Shortly before, lawmakers rejected the BSP’s proposal to give a mandate for the adoption of the euro, but without a date.
The draft decision also provides that the Council of Ministers, in coordination with the BNB and the other responsible institutions, will accelerate the process of technical preparation for the adoption of the euro according to the National Plan for the introduction of the euro, adopted by Council of Ministers on May 27, 2022.
The Republic of Bulgaria accepts the euro while maintaining the official exchange rate of the leverage per euro, equal to the central rate of 1.95583 leverage per 1 euro.it is also indicated in the draft decision.
“Vazrazhdane” asked that the draft decision be removed from the agenda of the legislative body “, but their request was not honored. This decision is inadmissible and legitimate, he said Kostadin Kostadinov. If the decision is accepted, “Vazrazhdane” will appeal to the Constitutional Court.
“There is an opportunity, we are not in a hurry and the BNB itself has admitted that it is late and we are not ready to enter the Eurozone”, stressed Kostadinov.
BSP will vote in favor of the “abstain” draft resolution. There is no comparative analysis of the BNB and governments, and making political decisions without economic analysis of the state and financial institutions, phantasmagoria is very dangerous, he warned. Rumen Gechev.
According to him, there is no guarantee that Parliament will force the Council of Europe and the ECB to accept us in the Eurozone on the route the country wants. Joining the Eurozone for political reasons is extremely dangerous, Gechev stressed.
Alexander Ivanov of GERB added that even if they accept us in the Eurozone, we will not enter, except at the fixed exchange rate indicated by Bulgaria. We will decline the kind invitation if we receive an exchange rate other than ours, Ivanov pointed out. The same position was expressed by the president of the PG of the GERB, Desislava Atanasova.
Asen Vasilev from the PP defended his party’s position on the adoption of the euro. He stated that the euro is a stable currency, while leverage is not a stable currency, because only Bulgarian investors give leveraged loans and all foreign investors – in euros. The Russian ruble was also not a stable currency, he said. The last time Bulgaria had a stable currency and was able to borrow and borrow after WWI and before the end of WWII, the former finance minister stressed. Shortly thereafter, Bulgaria’s entire gold reserve was sent to Moscow, and this is the time when leverage should be a hard currency, because there are no guarantees, Vassilev was adamant.
If this is not done at a fixed rate, neither the government nor the BNB can accept it. If we are in parliament, we will accept nothing but the fixed course, Asen Vassilev underlined.
