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Bulgaria to join euro area on 1 January 2026

(www.ecb.europa.eu)
257 points toomuchtodo | 1 comments | 09 Jul 25 00:44 UTC | HN request time: 0.205s | 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
replies(3): >>44506439 #>>44506730 #>>44507704 #
1. p2detar ◴[09 Jul 25 08:52 UTC] No.44507704[source]▶
Bulgarians are using the DM since 1997 and the Euro since 1999, they just call it Lev. We have a currency board that requires every single Lev be covered by foreign reserves which as of current consist of 90% EUR and 10% USD, JPY, GBP and others. We cannot print money to control interest rates, worse we have no say in ECB policies at the moment.

For the Lev to be independent we have to exit the currency board but this is madness, since our exports are already adjusted to EU countries where the currency is EUR anyway.