Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

Bulgarian Parliament adopts Bulgarian National Bank bill regulating the status of the euro

Photo: BGNES

The Bulgarian Parliament has adopted the amendments to the Law on the Bulgarian National Bank which regulate the legal integration of the Bulgarian Central Bank into the Eurosystem upon the introduction of the euro as the currency of Bulgaria. The changes affect the status of the euro, the design of the national side of the exchange euro coins, their release and withdrawal from circulation. The law must enter into force on the day specified in the Decision of the Council of the EU on the adoption of the euro by Bulgaria.

During the stormy debates, BSP for Bulgaria stated that Bulgaria was not yet ready to enter the Eurozone. Vazrazhdane expressed fears of rising prices and inflation after joining the Eurozone and fears of loss of sovereignty. 

PP-DB were categorical that it was ridiculous to talk about loss of sovereignty, since Bulgaria is currently in the conditions of a Currency Board. Regarding inflation, it was argued that in 2023, when Croatia joined the eurozone, it had a record for income growth in the EU, and the effect of the euro on inflation in the country was 0.2%.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Temperatures mark slight rise

During the night, the sky will be clear over most of the country. In the Danube plain, there will be weak wind from the northwest. Saturday will be mostly sunny. In the afternoon, cumulus clouds will develop over the eastern..

published on 7/26/24 6:50 PM

MPs vote in favour of Bulgaria joining the euro zone on 1 July 2025.

114 MPs from GERB-CDF, We Continue the Change - Democratic Bulgaria, DPS and 10 independents supported the government's bill on the introduction of the euro in Bulgaria in the first reading .  The bill stipulates that both currencies - the lev and the..

published on 7/26/24 6:20 PM

The Constitutional Court annuls recent judicial reforms and keeps the new caretaker cabinet

The Constitutional Court declared unconstitutional and invalid most of the changes to the Constitution voted by the 49th National Assembly at the end of 2023. The case was initiated at the request of President Rumen Radev and 48 MPs...

published on 7/26/24 3:39 PM