Bulgaria's Steps Toward Euro Adoption Gain Support from Eurogroup and ECB
Eurozone nations have expressed their support for Bulgaria’s progress toward adopting the euro
The pro-Russian political party "Revival" has announced plans to propose that the Bulgarian National Assembly invite external experts to conduct an analysis of the potential effects of Bulgaria's entry into the eurozone. Viktor Papazov, a member of parliament from "Revival," stated that the party believes the decision to abandon the leva in favor of adopting the euro should not be made without a thorough and serious evaluation of its consequences.
Papazov highlighted that the Ministry of Finance and the Bulgarian National Bank (BNB) should have jointly prepared such an analysis beforehand. However, the "Revival" party argues that this important step has not yet been taken, prompting them to seek an independent assessment.
The proposal submitted by the party on February 21, calling for the National Assembly to invite experts such as Steve Hanke, Jacques de Larosière, and John Greenwood to conduct the analysis, was forwarded to the Budget and Finance Committee for discussion. However, Papazov claims that the chairman of this committee, Delyan Dobrev, has not yet presented the proposal for review, which he suggests may be a deliberate act of sabotage. Papazov further implied that Dobrev is likely acting with the knowledge and approval of his colleagues in the GERB party.
In response to the delay, Papazov stated that "Revival" will submit a new official proposal to ensure that the experts are invited to analyze the potential impacts of joining the eurozone, and that the issue will be placed back on the National Assembly's agenda for discussion.
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