Bulgaria's accession to the eurozone is not just a formal institutional step, but the culmination of a long and often difficult process of economic integration and policy coordination. This was stated by the Governor of the Bulgarian National Bank Dimitar Radev during a meeting organized by the EC Representation in Sofia with the ambassadors of the EU countries and the EU candidate countries in Bulgaria, quoted by bTV.
According to him, in recent years the country has gone through serious internal political instability, marked by fragmented governance and a series of elections. However, macroeconomic and financial stability have been preserved.
Radev acknowledged that fiscal discipline, a traditional pillar of the country's economic framework, has come under pressure, but stressed that eurozone membership should not be perceived as a “reward for past performance“, but as a mechanism that strengthens responsibility and stimulates prudent and future-oriented policies.
“The adoption of the euro overcomes this long-standing institutional asymmetry by aligning responsibility with representation“, Radev pointed out.
In his speech, he also drew attention to the complex international environment - geopolitical tension, economic fragmentation and financial volatility. In this context, the eurozone, he said, plays the role of a key anchor of stability, based on rules, institutional depth and coordinated action. Its expansion, when based on real preparedness, strengthens the integrity of the common European framework.
Radev stressed that Bulgaria approaches its membership with a clear awareness of the responsibility it bears. Participation in the European Central Bank and the Eurosystem is not seen as a protection from the need for reforms, but as a commitment to discipline, consistency and active participation, especially in periods of crisis.
The Governor of the BNB defined entry into the eurozone not as a ceremonial act, but as a process of institutional consolidation that strengthens both national stability and the cohesion of the eurozone as a whole. “Our intention is to respond to this trust through consistent policies, responsible participation and long-term European commitment,” said Dimitar Radev.