Could Bulgaria Face a 'Greek Scenario' After Adopting the Euro?
With Bulgaria set to adopt the euro on January 1, 2026, questions are surfacing about whether the country might face financial risks similar to those that led to Greece’s debt crisis
“The way the parameters are set in the current Recovery and Resilience Plan is not good for us. The previous government had committed to a 40% reduction in carbon emissions. This means closing down specific coal-fired power plants. If this happens, it will cause enormous damage to the Bulgarian economy and the security of the electricity system.” This was commented by acting Prime Minister Galab Donev.
"We have the opportunity to renegotiate if this is accepted by the European Commission. As the Plan has been signed, it obliges Bulgaria to reduce carbon emissions by 10% this year, which is not acceptable for us. We are in contact with the EC and will insist that this commitment made by the previous government be postponed, revised, with the adoption of another reference year", added Donev.
The caretaker government will introduce an electricity strategy that will "show the development of the electricity sector in Bulgaria in the next few years", specified the caretaker prime minister.
"The National Assembly deals with everything else, but not with its main activity - law-making. All laws under the Recovery Plan were introduced by the caretaker government. I am not optimistic that more than 2-3 submitted bills will be passed. Judge for yourself who is responsible," he added.
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