FOR AND AGAINST THE EURO

Abstract

Adoption of the euro in Bulgaria, or entry into the euro zone, from the beginning of the next -2026. appears as a very important event in the economic and social life of the country after entering the European Union from 01.01. 2007. This is accepted as a natural continuation of Bulgaria's path to European integration, which was laid down with the signing of the EU Accession Treaty in 2005. The adoption of the euro is expected to affect the economy, to impact business and the everyday life of society, but in what direction the future will show, as the expectations for certain difficulties in the first two-three years are definitely real. The relatively long period of almost 20 years. from the assumption of this obligation under the Accession Treaty until January 1, 2026, as well as more than 5 years – from 2020. in the waiting room of ERM-II, indicates the presence of various both internal and external factors that have influenced and continue to influence this process. These factors include various economic crises, political uncertainty instability, as well as failure to fulfill the serious requirements arising from the treaty signed in Maastricht (Netherlands), on February 7, 1992. It is natural that the requirement for adopting the euro depends on the “readiness of the country” for what is associated with a lot of effort, the presence of real reforms, changes in the regulatory framework, as well as permanent adaptation to the constantly changing economic environment. In recent months, many truths and untruths have been written and spoken about this process, that society and business cannot fully orient themselves, what will happen in 2026. And despite the fact that only “positive” effects of the adoption of the euro were officially emphasized, there are still no less negative ones that no one says anything about. Even official politicians from the Parliament claim that we are entering the euro zone with manipulated NSI data on inflation and deficit! Others are looking for a connection between the euro zone and its prototype from the late 19th century - the Latin Monetary Union, and whether its collapse does not portend a similar development of the current situation, especially with the huge expenses and loans that the EC is making regarding the Covid crisis, the Green Deal and Ukraine.