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
Three-quarters of Bulgarians believe the crisis in Greece should be blamed on politicians, a recent Gallup poll has shown.
Opinions are almost evenly divided over the statement that there is a risk for Bulgaria to have a similar crisis, with 37% saying they agree and 38% disagreeing.
Conducted between July 30 and August 06, after an agreement "in principle" had been reached between Greece and international lenders on a third bailout package, the survey suggests that, out of the 1010 respondents, nearly 40% believe it is the Greek government that profits the most from the agreement. Some 13 percent say the biggest winners are "European creditors", and 24% believe both sides have won.
"If we try to put the answers on an "averaged" level, it seems Bulgarians lay the blame to different extents on Greeks themselves, their political elite, and creditors. An impressive share of respondents, at nearly 50%, answer "Yes" to all the three statements," the pollster has concluded.
Asked to confirm or deny whether "Greece has problems because Greeks do not work enough," some 60 percent of participants in the poll have answered "Yes", while those rejecting the claim are about three times less (21%).
At the same time, 69% agree (and 14% disagree) that "Those who gave loans to Greece are mainly to blame."
Somewhat paradoxically, 79% agree that "the main culprit for the problems in Greece are politicians there", while only 9% disagree.
There is an overwhelming rejection of the statement that "Part of Greece's debt should be written off" - with 79% answering "Disagree" and only 11% "Agree".
"Bulgaria should help Greece financially" is the statement which has met the fiercest opposition from respondents, 86% of them having answered "Disagree" and only 6% "Agree".
A majority (albeit a narrower one) of 48% disagree that "Excessive austerity is harmful for Greece", while 21% believe that holds true.
Opinions are divided over whether the country should be allowed to default on its debt because it does not take the EU's requirements and norms into consideration.
Forty-four percent of respondents, when asked how the situation in Greece will develop, say "It will get worse", against 21% who believe it will improve.
A vast majority (57%) agree "the problems of Greece show that there is a serious crisis in the EU", and just 19% disagree.
Those backing the statement that "It would be good for Bulgaria to adopt the euro" are just 17%, compared to 53% who say they disagree.
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