Businesses ask for euro adoption

08.02.2016
Businesses ask for euro adoption

Businesses want to speed up the procedure for Bulgaria's accession to the eurozone, so by mid-year the government must prepare a national plan for euro adoption. That said deputy chairman of the Bulgarian Industrial Association (BIA) Brankov. According to BIA any delay in joining the euro area, limited access to finance and deteriorating competitiveness of enterprises and factories in the country.

In its opinion, the BIA pushing for faster entry into the "waiting room" of the eurozone. However, this can only happen after the completion of stress tests of banks after deciding to migration crisis in Europe and clarify the status of Britain in the EU. BIA want to adopt a target date for euro adoption in the country.

Brankov trying to clarify and dispel some misconceptions mass on Bulgaria's accession to the eurozone. "The costs and losses consume them from the introduction of the currency board in 1997, ie take the sting without taking benefits from the fact that we have a stable exchange rate and low debt, "said Brankov.

One of the biggest misconceptions and common concern is how the course will take place assuming the euro. Brankov explains that this will happen this exchange rate and this is enshrined in the Treaty of Accession of Bulgaria to the EU. There are massive concerns over sluhoveche that with the introduction of the euro, lives prices will increase significantly. Brankov refutes this by clarifying that in the last three Baltic republics that joined the monetary union in the CBA, does not suffer a similar appreciation.

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