Huh? Budget deficits limits are suspended, how is Crotia allowed to use that, but Bulgaria isn’t?
What does the picture symbolize about Romania?
And who on the Balkans gives a fuck about the single currency?
I’ve done some research just now, and as far as I can understand the article you posted, nothing is set in stone. They might still make it to the eurozone, as planned. Especially Bulgaria, aiming for 01.01.2024.
What? Bulgaria gdp to debt ration is 25%, we can literally take a loan of about 50% more, and we would be one of the lowest countries in the EU by the gdp to debt ratio
The quoted Bulgarian “economist” is a member for an openly russophile, far-left, pseudonationalist, eurosceptic party – a tiny one, thankfully, who is going around the media spouting doomsday predictions stemming from the recent rise of anti-corruption parties and the formation of a new anti-theft coalition with a core that isn’t apart of the communist structures for the first time since 1945.
It’s hilarious how he says his party will give everyone everything for free and at the same time he goes on to whine about high inflation & a little bit of debt during a covid crisis on top of a political crisis with the old guard doing everything possible to sabotage even simple budget updates.
Bulgarian inflation and debt aren’t an issue as they are currently caused by extreme circumstances. Endemic corruption should be the limiting factor when it comes to entering the eurozone, as we will just turn into a worse version of Greece, all of the money going to the corrupt establishment.
If we get blocked there will be a lot of “I told you so”‘s in Bulgaria. Schengen 2.0.
That being said…
>Professor Boian Durankev said that the significant budget deficit will prevent Bulgaria from joining the eurozone in the near future.
is hardly a credible source. If it comes from someone up the EU chain we can talk about it actually being blocked. This is just professor doing standard professor stuff.
Personally, I am weary of joining the Euro Zone any time soon. We are too unstable, undisciplined, too corrupt and politically unstable for us not become Greece 2.0
8 comments
Huh? Budget deficits limits are suspended, how is Crotia allowed to use that, but Bulgaria isn’t?
What does the picture symbolize about Romania?
And who on the Balkans gives a fuck about the single currency?
I’ve done some research just now, and as far as I can understand the article you posted, nothing is set in stone. They might still make it to the eurozone, as planned. Especially Bulgaria, aiming for 01.01.2024.
[“Bulgaria meets the nominal criteria for joining the euro zone at present and expects to be compliant when the euro is adopted, **despite eventual inflationary pressures as it converges with the richer euro zone economies. Bulgaria is one of the least indebted EU states**. Its fiscal deficit was only 3% of economic output last year, despite increased spending to reduce the impact of the coronavirus on jobs and businesses.”](https://china-cee.eu/2021/07/19/bulgaria-economy-briefing-draft-national-plan-for-the-introduction-of-the-euro-in-bulgaria-has-been-published-for-public-discussion/)
What? Bulgaria gdp to debt ration is 25%, we can literally take a loan of about 50% more, and we would be one of the lowest countries in the EU by the gdp to debt ratio
The quoted Bulgarian “economist” is a member for an openly russophile, far-left, pseudonationalist, eurosceptic party – a tiny one, thankfully, who is going around the media spouting doomsday predictions stemming from the recent rise of anti-corruption parties and the formation of a new anti-theft coalition with a core that isn’t apart of the communist structures for the first time since 1945.
It’s hilarious how he says his party will give everyone everything for free and at the same time he goes on to whine about high inflation & a little bit of debt during a covid crisis on top of a political crisis with the old guard doing everything possible to sabotage even simple budget updates.
Bulgarian inflation and debt aren’t an issue as they are currently caused by extreme circumstances. Endemic corruption should be the limiting factor when it comes to entering the eurozone, as we will just turn into a worse version of Greece, all of the money going to the corrupt establishment.
If we get blocked there will be a lot of “I told you so”‘s in Bulgaria. Schengen 2.0.
That being said…
>Professor Boian Durankev said that the significant budget deficit will prevent Bulgaria from joining the eurozone in the near future.
is hardly a credible source. If it comes from someone up the EU chain we can talk about it actually being blocked. This is just professor doing standard professor stuff.
Personally, I am weary of joining the Euro Zone any time soon. We are too unstable, undisciplined, too corrupt and politically unstable for us not become Greece 2.0