The public discussion around Bulgaria’s adoption of the euro remains clouded by persistent myths and misinformation, according to MP Martin Dimitrov from "We Continue the Change-Democratic Bulgaria." In comments made to Novini.bg, he criticized the government for conducting a weak information campaign, missing basic opportunities to counter disinformation. One such example, he said, would have been to simply film everyday prices in Croatia - where the euro was recently adopted - and show that they remained stable.

Dimitrov emphasized that widespread misconceptions have been allowed to take root because of official silence and lack of response. “This misinformation, which has been brewing for a long time, continues to thrive because no one has made the effort to explain the facts,” he said. He argued that the introduction of the euro did not trigger inflation in Croatia and dismissed claims that euro adoption led to economic turmoil in Greece. In his view, Greece’s issues stemmed from internal mismanagement, not the euro itself.

He stated that Bulgaria’s financial participation in the European Central Bank would amount to roughly 800 million euros, clarifying that this amount would remain part of the country’s capital. Most of Bulgaria’s state reserves, he said, would continue to be held by the Bulgarian National Bank (BNB), and fears that anyone could seize them are unfounded. “Yes, the minimum reserves will be lower, but only because the systemic risk is lower,” he added. The funds held by banks will remain under their control.

“All other claims are conspiracy theories,” Dimitrov stated firmly, placing the blame squarely on the government’s shoulders for failing to provide clear explanations and factual counterarguments.

He underscored that while joining the eurozone will increase financial system stability, it is not a cure-all. “It must be said plainly - no one will solve our internal problems for us,” Dimitrov remarked.

Responding to common fears about personal savings, he reiterated that no one would confiscate Bulgarians’ money. The switch to the euro will be automatic and transparent. As of January 1, 2026, all funds in the banking system will be converted at the fixed rate of 1.95583 leva per euro. Cash held outside the banking system will also be exchangeable at that rate, with no time limit.

“This is the rate. It will not change,” Dimitrov emphasized. The BNB will offer unlimited conversion of leva into euros at the same fixed rate, ensuring long-term financial predictability.

Source: Novini.bg