A Plan for the Euro in Bulgaria: For a Month Payment in both Currencies, but the Change will be in Euros
By the end of the year, commercial banks will be technically ready to accept the euro, according to, Dimitar Radev, Governor of the Bulgarian National Bank (BNB). He said this during his hearing by the parliamentary committee on European Union issues.
However, Radev added that the institutions have a problem with preparation and pointed to "Bulgarian Posts" as an example. He explained that a strategy has been developed for the preparation for the adoption of the common European currency.
The governor of the BNB pointed out that the governmental body is preparing for the adoption of the currency intensely, including by providing cash centers and new armored cars. According to him, the bank has so far been preparing for the adoption of the euro from January 1 next year and if the deadline is postponed to January 1, 2025, the BNB will be fully ready. He added that it is planned to be able to pay with both currencies only a month after the adoption of the euro, but the change will be in euros. In this way, levs will be taken out of circulation. Prices in stores will be announced in both currencies 6 months before and one year after the adoption of the euro.
The "Vazrazhdane" party made a comment instead of a question. Stoyan Taslakov stated that the BNB is in a hurry to prepare for the adoption of the euro before the referendum initiated by them is held. Radev stated that the BNB and the entire banking sector are part of the European banking system and in this sense, excluding monetary policy, are part of the Eurozone. He also added that the suspension of preparations for the adoption of the currency means a step backwards and carries with it many risks - for example, the exit from the currency mechanism.
Dimitar Radev also said that from...