Nikolay Nikov to FACT: The final nail in Bulgaria's coffin will be the drop in visas for the US

The big challenge facing Bulgaria is demography, but what are we doing to change the trend… And how will adopting the euro affect us… Economist Nikolay Nikov speaks to FACT.

- Mr. Nikov, Bulgaria and the euro are already one – it's decided. From January 1, 2026, we will start paying in euros. Then what…
- The euro is a euro, money is money. And we will talk about them. Bulgaria's main problem is different. Our main problem is that we are melting and disappearing. Bulgaria is disappearing, we are disappearing as a people. This is our problem. All measures and actions should be aimed at protecting our nation and nationality. Every policy should be measured against this main goal. An example of such a political decision is the adoption of the euro.

- Many debates, many comments, President Rumen Radev asked for a referendum, but nothing happened in our country. Otherwise, the EU told us “yes“…
- Bulgaria is already a sad picture in terms of the demographic situation - from 9 million people just 30 years ago, we are now nearly 5 million people. There are already completely depopulated villages, and those that remain have an average of 300 people in them. In just 10 years, almost all villages will be completely depopulated and the melting of small towns will begin. People are going abroad, and those that remain simply do not have children. On average, each couple should have at least three children to stay in Bulgaria in order to save ourselves. This is categorically not happening. It's a shame to depopulate this paradise, where there is everything and a lot of it.

- We talk a lot about demography. Every government promises, we have vice-presidents responsible for demography and whatnot. Why isn't demography a national priority?
- The theory is accepted that people should be financially secure enough to have children. This is not true! People are much richer now than when we were 9 million people. There is a feeling that everything possible is being done, and systematically, for our destruction. For example, adopting the euro in Bulgaria? What will be the benefits for Bulgaria's demography? This should be one of the clarifications before the referendum, which we are all fighting for. It is clear that this will further worsen our demographic crisis and damage our entire nationality.

- But we hear how with the euro we enter the “club of the rich“, we will become more attractive for investments…
- Let's be objective. After adopting the euro, control of our state goes entirely into the hands of the European Central Bank (ECB). What nationality and identity will we have, after most institutions in Bulgaria, including our parliament, will become meaningless?! And regarding demography, this will be disastrous, because when your currency is common with other countries, you have no borders. Despite all the empty talk about fighting speculation, prices will become the same as those in the rest of Europe. This is still a market, and there is nothing stronger than the market. Prices will be equal to those in the industrial giants of Europe, France and Germany. Incomes can't be the same because we can't make Mercedes like the Germans and profit from their added value.

- But our economy will be more open, more accessible to business in the EU as a whole. Isn't that what we hear?
- What we hear is one thing. What will happen is quite another. But even if we reach the level of the Germans that I mentioned, we will be like flies in a jar, because our money will be in the hands of our competitors. People will go west en masse to be able to afford the same goods and services, but with a higher disposable income. And the final nail in Bulgaria's coffin will be the drop in visas for America. Those who haven't gone to the developed part of Europe will go to America.

- The USA is far away. It is unlikely that there will be many who want to, since the level in the developed countries in the EU is quite high…
- Look, if we want to industrialize and save ourselves as a nation, we should have our own currency, which we control ourselves. In case we want to stimulate exports, we should devalue it, and when we decide that we want higher purchasing power outside Bulgaria, we should raise its value. This can be done if we gradually free ourselves from the Currency Board and introduce a gold standard for our Bulgarian lev. After all, the Board is a financial instrument that we have chosen voluntarily. We have more important issues to solve than thinking about a common currency with the powerful of the day. It's like going on vacation with Elon Musk, where he wants you to share the expenses. Demographics are important for Bulgaria right now, because we are melting and disappearing. It is important to take care of our nationality and nation, and adopting the euro is not a concern - it is the destruction, or rather the further destruction, of our country.