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
In a sweeping move aimed at curbing reckless driving and enhancing road safety, Greece has implemented stringent measures against speeding motorists. Since March, a new law has been enforced, authorizing the impoundment of vehicles traveling at dangerously high speeds.
Under the new regulations, drivers exceeding speed limits by 60 kilometers per hour in populated areas and by 70 kilometers per hour outside urban zones face immediate consequences. For instance, cruising at 220 kilometers per hour on the highway could lead to the confiscation of the vehicle, leaving the driver without transportation.
Notably, the crackdown extends to foreign drivers as well, ensuring that all motorists adhere to the specified speed limits. This underscores the severity of the law's enforcement and its universal application across the country's roadways.
Already, the impact of the law is evident as the first batch of impounded cars has been put up for auction. The proceeds from these auctions are divided, with 70% contributing to the traffic safety fund and the remaining 30% allocated to the local police organization.
Road safety experts emphasize the urgent need for a shift in drivers' attitudes towards speeding. According to data from the national statistical agency Elstat, excessive speed ranks as the leading cause of fatal crashes in Greece. This highlights the critical role of enforcing strict measures to address the root cause of road accidents and prevent loss of life.
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