euro adoption

Bulgaria has adopted the euro. After more than 28 years under a currency board arrangement, the country is entering a new stage of its development. The bank failures and hyperinflation of 1996–1997 wiped out people’s savings and pushed Bulgaria to the bottom of Europe, below 30% of the EU average in GDP per capita in purchasing power parity by the end of the 1990s.

After the summer recess, the Bulgarian Parliament rushed to change the rules for electing the chair of the National Statistical Institute (NSI). However, under the pretext of improving independence, this is simply an attempt to remove an inconvenient director who refuses to comply with the demands of political parties and institutions, even when they are contrary to the legislation and principles on which the statistical institute is based.

Contrary to what Lithuania’s prime minister claims, discussions on euro introduction are far from over. They might be over for those who have had the task of convincing Lithuanians about the benefits of having the euro.