The Currency Board in Bulgaria can be compared to a strait jacket, Krasimir Angarski, economic advisor to the President, said in a radio program. According to him the system is imposed so that the printing of more money for covering social expenses can be prevented.

Krasimir Angarski expressed the opinion that the biggest challenge Bulgaria faces is the introduction of the single European currency – the euro. He said that with the euro introduction Bulgaria has missed a unique chance, namely that in the European Union and the European Central Bank opinions on euro introduction diverge. Some support the idea of its fast introduction, while others back the step-by-step process. Serbia was pointed as an example of country, which actively strives for its introduction, while Kosovo openly shows its support.

He underlined that it is imperative for Bulgaria to accelerate the process of euro introduction either by developing a new project or perfecting the present one. He stressed that two years ago the project was received very well. “Many people from the European Union came here. It was suggested that Bulgaria become a country-model. But they selected Montenegro instead. That was a great opportunity that we missed,” he said, blaming for this the then finance minister.

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