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Bulgaria to join euro area on 1 January 2026

(www.ecb.europa.eu)
258 points toomuchtodo | 1 comments | 09 Jul 25 00:44 UTC | HN request time: 0.406s | source
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ingohelpinger ◴[09 Jul 25 04:12 UTC] No.44506281[source]▶
the Euro has lost almost half of its purchasing power since its creation. bulgarians want the Euro so much, that they have to run tv ads, "we will become more wealthy by introducing the Euro", what? how will that happen, if you need more money to buy same or less products/services? lmao
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tirant ◴[09 Jul 25 05:57 UTC] No.44506730[source]▶
Historically other currencies have depreciated much more than the Euro. The LEV depreciated around 99% before being pegged to the Euro.
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1. ingohelpinger ◴[09 Jul 25 06:09 UTC] No.44506773[source]▶
Well, the Lev was pegged to the DM first, which was a way stronger currency.

The euro has depreciated more (in both real purchasing power and against other currencies) than the Deutsche Mark.

The DM was seen as one of the strongest and most stable post-WWII currencies, while the euro has struggled with crises and inflation.

Bulgaria pegging to the DM in 1997 meant anchoring to a much harder currency than what the euro has become.