In all its components, the euro has more advantages than any other former national currency of the member states. It is a common currency, it is not a foreign one that we should accept. Nearly 400 million citizens pay through it, said Prime Minister Rosen Zhelyazkov, quoted by Nova TV. In Burgas, he launched a series of information events that are part of the National Information Campaign for the Introduction of the Euro in Bulgaria.
When trust is fundamentally attacked, regardless of the sphere of public life, then institutions become weaker, and society becomes increasingly unable to activate its immune system against challenges. The more we cover European standards, the better the common market of the euro will function. The national information campaign should not be limited to well-known and learned clichés, but should be aimed at the more vulnerable groups, threatened by manipulation, speculation and playing on fears. We live in a sea of information, in which the truth is the most expensive. There are no mechanisms that can identify fake news and outright lies. Investing in truth is an expensive effort. The media should be our ally in this campaign", commented Zhelyazkov.
According to him, the introduction of the euro should be a planned process that does not develop spontaneously, thus fueling public fears.
For her part, Finance Minister Temenuzhka Petkova noted that admission to the eurozone is a successfully achieved strategic goal. "This concludes the process of comprehensive integration of the country within the European Union. Much is said about the benefits of the eurozone. Our membership is a guarantee of economic and price stability, as well as more investment and economic growth, and increased income. This is a wonderful opportunity for the development of Bulgaria. However, our membership in the eurozone is not a panacea - we will have to make serious efforts to comply with all the rules so that we can take full advantage of all the opportunities. For us, a key priority is the smooth introduction of the euro - in order to avoid risks associated with the process", Petkova emphasized.
She also noted that there is a campaign to mislead the public about the euro. "There is no EU member state with a reduced standard of living or slowed economic growth. Our membership in the eurozone is associated solely with benefits for society and business, but in order to benefit from them, we must be well informed. We will not make propaganda about the euro, but will offer objective information. Only together can we cope with the transition to the introduction of the single currency", the minister believes.
BNB Governor Dimitar Radev stated that the bank is fully committed to the expertise and responsibility to help ensure a smooth transition to the euro.
"Business is among the main beneficiaries of the introduction of the euro. Exchange costs are eliminated, transactions are facilitated, trade costs are reduced and competitiveness is increased. This is especially important for small and medium-sized enterprises. They will have equal access to the single market, even with less capital. The euro will also provide better access to European financial markets, greater predictability and investor interest in Bulgaria. The challenge for businesses is to train their staff and successfully complete the technical preparation for adopting the euro. The real measure of success, however, is the benefits for citizens - for them the single currency means more stability, their savings will be protected, and their purchasing power - better preserved. And since Bulgarians also have a number of questions, the government is already implementing the measures, including dual price labeling and a strong information campaign. We publish the answers to all questions received at the BNB on our website", Radev pointed out.
According to him, municipalities will benefit from the euro - among the benefits is that there will be more predictability in budget planning - and the most important thing is that they are close to the people and explain on the spot. "There are several groups of challenges - the perception of prices and political stability. Strict control, honest dialogue and timely information - these are some of the measures that will help the smooth transition. The BNB is ready for the euro, the banking system is stable, the technical infrastructure is prepared, and logistics are going according to plan. Since the beginning of September, the BNB has been an observer in the ECB and its working formats," commented Dimitar Radev.