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Bulgaria to Adopt the Euro

euronews.com

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Re: Bulgaria to Adopt the Euro

#3

Post by 4gotunameagain »

It is clearly not in the benefit of Bulgaria to join a shared currency with advanced, manufacturing, positive export surplus countries like Germany.

Losing control of the currency will result in all domestic manufacturing to become more expensive (therefore incapable to compete with higher quality German goods), and all manufacturing capabilities will disappear in favour of the most cancerous form of industry, tourism. Like what happened to Greece and Portugal.

Re: Bulgaria to Adopt the Euro

#5

Post by Mainan_Tagonist »

4gotunameagain wrote: post #3

It is clearly not in the benefit of Bulgaria to join a shared currency with advanced, manufacturing, positive export surplus countries like Germany. Losing control of the currency will result in all domestic manufacturing to become more expensive (therefore incapable to compete with higher quality German goods), and all manufacturing capabilities will disappear in favour of the most cancerous form of industry, touris…

Exactly, thank you for pointing this out. The Euro has hardly been the boon promised in many of the countries that have adopted it.

Re: Bulgaria to Adopt the Euro

#6

Post by mhitza »

4gotunameagain wrote: post #3

It is clearly not in the benefit of Bulgaria to join a shared currency with advanced, manufacturing, positive export surplus countries like Germany. Losing control of the currency will result in all domestic manufacturing to become more expensive (therefore incapable to compete with higher quality German goods), and all manufacturing capabilities will disappear in favour of the most cancerous form of industry, touris…

I'm not so familiar with Greece's and Portugal's issues when switching to the euro, but I have followed along the news with Croatia's switch to the euro. Where it was a prime excuse for the large chains (mainly supermarket chains) to round up prices during the conversion.

Re: Bulgaria to Adopt the Euro

#8

Post by mslansn »

4gotunameagain wrote: post #3

It is clearly not in the benefit of Bulgaria to join a shared currency with advanced, manufacturing, positive export surplus countries like Germany. Losing control of the currency will result in all domestic manufacturing to become more expensive (therefore incapable to compete with higher quality German goods), and all manufacturing capabilities will disappear in favour of the most cancerous form of industry, touris…

It also happened to Spain.
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