Bulgarian Banker: No One Enters the Eurozone in the Middle of the Year

Business » FINANCE | May 15, 2024, Wednesday // 13:12
Bulgaria: Bulgarian Banker: No One Enters the Eurozone in the Middle of the Year

According to Levon Hampartzoumian, the likelihood of Bulgaria joining the Eurozone in 2025 is very slim, as no country has ever entered during the middle of the year. He expressed hope that the country could achieve this milestone in early 2026, emphasizing the need for organized efforts and continuity in political direction, regardless of changes in government leadership.

Hampartzoumian cautioned against the risk posed by potential shifts in government dynamics, likening it to the emergence of "Taliban-like" figures. He highlighted the role of political stability and cited Bulgaria's delayed progress towards joining the banking union, contrasting it with Croatia's successful advancement despite similar economic conditions.

Commending the Bulgarian National Bank's readiness for Eurozone integration, Hampartzoumian noted the associated costs and emphasized the need for continued investment in this endeavor. Drawing parallels with Croatia, Slovenia, and the Baltic republics, he underscored the importance of aligning economic strategies with those of successful Eurozone entrants.

Regarding the contentious issue of pension increases, Hampartzoumian dismissed it as unnecessary PR discourse, asserting that the focus should be on responsible allocation rather than political posturing. He criticized the ongoing debate over budgeted funds, emphasizing the importance of fiscal responsibility.

Hampartzoumian also addressed the topic of bread production, cautioning against simplistic solutions and emphasizing the need for market-driven pricing strategies. He stressed that quality products command higher prices and are successful where demand exists.

Levon Hampartzoumian, a Bulgarian banker, served as the CEO and Chairman of the Management Board of UniCredit Bulbank from 2001 to May 2019. During his tenure, he also held the position of Chairman of the Association of Banks in Bulgaria (ABB) and was a member of the Board of Directors of BORICA.

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Tags: Hampartzoumian, Eurozone, Bulgaria

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