Kiril Petkov, co-chair of the "We Continue the Change" party and former Prime Minister of Bulgaria, spoke to BNT about the history and implications of Bulgaria’s currency board system, highlighting its colonial roots. He pointed out that nearly all countries currently using a currency board- 29 in total - were once colonies, primarily of England and France. These include nations such as Benin, Gabon, Cameroon, Congo, Mali, Niger, Senegal, Togo, and Chad.

Petkov explained that the currency board system originated as a tool imposed by colonial powers, where monetary policies were dictated to the colonies without their input or consent. It was a way for the colonizers to control the economic decisions of these countries.

Turning to Bulgaria’s future, Petkov emphasized that joining the eurozone represents a significant shift. Instead of passively following external directives, Bulgaria would gain a seat at the decision-making table. This transition is, in his view, a boost to national sovereignty - not by acting alone but through shared sovereignty within the EU. He underlined that sovereign nations like Germany, France, and Italy choose this path of pooled sovereignty because, in today’s global economy, unity brings greater strength and competitive advantage.

For Petkov, adopting the euro is not just an economic step but a statement of Bulgaria’s growing role and influence on the international stage.

Source: BNT interview