The challenges facing the country's development and structural problems are not affected by the euro. Yes, it will allow us to be more efficient, but only if we want to, it's not automatic. It gives us better opportunities to be successful, but doesn't protect us from anything. This was said in the studio of "Offensive with Lyubo Ognyanov" by banker Levon Hampartzumyan.
"The Eurozone doesn't protect us from political whitewash, an example is Slovak Prime Minister Robert Fico. It doesn't protect us from corruption scandals and bank failures either. The sensible management of the state and its finances are important with or without the euro. Almost 95% of all administrative procedures have been completed," he added. He explained that prices will not rise after January 1 because of the euro. According to him, competition and control regulate prices.
According to Hampartzumyan, these assessments do not affect citizens, but those working in the financial sector and trade - favorably. "Bulgaria's image is improving, and the financial risk is lower. Most likely, we will improve our rating a little more by 2026. But this does not mean that Bulgaria will not have financial problems, an example is Greece. But the eurozone helped it get out of it," he recalled.
Will we pay for the heartless financial policy of other eurozone countries?
"Our economy is 0.4% of the European economy, even if we give all the funds, we cannot help. States solve big problems, they don't wait for us, so no one will make us pay for other people's expenses, nor will they take anything from us. The important thing is to achieve a higher percentage than this half right now," the banker replied.
Mandatory minimum reserves - a resource amounting to about 15 billion leva
"This will not increase inflation, because even if banks have greater liquidity, these funds will be spent according to the rules of liquidity and risk. Money will not pour like rain," Hampartzumyan is categorical.
The property bubble
"Buyers of homes for investment run a high risk of losing money on the value of the property in a market downturn, and if they have a loan from the bank - of repaying more. "However, if he buys for his own needs with a loan from his future funds, he may have to restructure his income," the banker warned.