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
“Until now, Bulgaria has benefited very little from the Recovery and Resilience Plan (RSP). The last tranche is from December 2022 and is 2.7 billion, in the following two years we have not received any money - to date, this is the first and last tranche for our country”. MEP Ilhan Kyuchuk made these remarks while addressing students at a public lecture held at Southwestern University 'Neofit Rilski'. He was invited to speak on the subject of 'Quo Vadis, Europa?' to the university's student body, BTA reported.
During his lecture, Kyuchuk emphasized the importance of making critical decisions to ensure the European Union functions cohesively. He stressed the necessity of consensus politics in light of recent challenges faced by the EU.
Kyuchuk also urged future members of the European Parliament (EP) to advocate for Bulgaria's flexibility in accessing funds allocated under the Recovery and Sustainability Plan. He emphasized the need for these funds to reach Bulgaria effectively.
The lecture sparked a flurry of questions from students, particularly on topics such as Bulgaria's accession to the Eurozone, Schengen membership, security, and energy. Kyuchuk reiterated the importance of prioritizing Bulgaria's acceptance into the Eurozone, highlighting the need for concerted efforts in this direction. He expressed concerns about the forthcoming convergent report, suggesting that Bulgaria has missed out on significant opportunities.
As Bulgaria heads into elections, Kyuchuk underscored the importance of placing the Eurozone and Schengen topics high on the country's political agenda. He urged robust debate and action on these critical issues post-election.
Nearly 83% of Bulgaria’s administrative institutions are technically prepared to operate with the euro
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