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View Full Version : Bulgaria Euro Adoption Likely in 20 Years - Analyst



poiuytrewq0987
03-20-2010, 02:22 PM
Bulgaria's aspirations to join the euro zone may be rewarded in no less than two decades, according to a leading European analyst.

"It is hard to predict the exact timing, but before it joins the euro zone, Bulgaria will have to have obtained compete convergence not only in terms of fiscal requirements, but also in terms of salaries, which should be measurable with the ones in Germany for instance,” Daniel Gros, Director of Centre for European Policy Studies, told the Bulgarian National Radio.

Gros stressed that though this is not the first time that Bulgaria voices willingness to join ERM II, the waiting room of the eurozone, this time the institutions are once again skeptical about its readiness.

In his words the European Central Bank is very cautious because it fears that despite the good budget indices that Bulgaria has now, a fast entry into the eurozone can lead to a shocking economic and price booms, which will bring about bankruptcies and collapses of whole sectors.

“That would put under pressure the whole eurozone, that's why the common feeling is that Bulgaria will have to wait a few years before joining,” Gros pointed out.

http://novinite.com/view_news.php?id=114402
I don't really see the point of joining the monetary union. I mean the Bulgarian lev is already nearly of similar value of the euro. Am I missing the big picture or what?

Tabiti
03-20-2010, 02:50 PM
I don't really see the point of joining the monetary union.
You're not the only one;)

Eldritch
03-20-2010, 02:59 PM
You're not the only one;)

Especially the whole thing may not even exist anymore at the time. The whole EU is already a ten-kilo bag trying to hold 12 kilos of shit.




[and yes, I know the EU and the EMU aren't the same entity, smartasses]

Svanhild
03-20-2010, 04:46 PM
Truth be told, I hope the Euro is history in 20 years.

Tabiti
03-20-2010, 04:48 PM
Truth be told, I hope the Euro is history in 20 years.
Same.
BTW, Euro are among the worst looking banknotes I've ever seen.

Arrow Cross
03-20-2010, 05:18 PM
Same.
BTW, Euro are among the worst looking banknotes I've ever seen.
*Holds up a €1 with the "Liberté Égalité Fraternité" ensignia on it, frowning*

Freakin' freemasons...