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Bulgaria to Adopt the Euro

euronews.com

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Re: Bulgaria to Adopt the Euro

#31

Post by akmarinov »

Mainan_Tagonist wrote: post #27
akmarinov wrote: post #22

Earlier quoted context omitted.

But GP didn’t say that, he said it’ll be bad for Bulgaria and he’s objectively wrong, due to all the reasons outlined by others.

You simply do not know if he is objectively wrong. On the basis of 25 years of Euro, what we have observed is that in the eurozone, capital follows productivity, and countries tend to specialise in line with what their factor endowment and national inclination will let them. The Euro is usually "sold" as a miracle solution when it has only really been successful for countries that had a very export oriented string in…

Again, he’s arguing that Euro will be bad for Bulgaria, not that the Euro is bad.

This is objectively wrong, since Bulgaria currently had 0 control over its currency, where joining the eurozone, they’ll have a vote at the table

Re: Bulgaria to Adopt the Euro

#33

Post by Symbiote »

mhitza wrote: post #6
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.

Is there any trustworthy reporting on this?

All it takes is for one chain to round prices down (1-2¢ isn't going to be an issue for them), advertise this, and gain many new customers.

Re: Bulgaria to Adopt the Euro

#34

Post by bpizzi »

Mainan_Tagonist wrote: post #27
akmarinov wrote: post #22

Earlier quoted context omitted.

But GP didn’t say that, he said it’ll be bad for Bulgaria and he’s objectively wrong, due to all the reasons outlined by others.

You simply do not know if he is objectively wrong. On the basis of 25 years of Euro, what we have observed is that in the eurozone, capital follows productivity, and countries tend to specialise in line with what their factor endowment and national inclination will let them. The Euro is usually "sold" as a miracle solution when it has only really been successful for countries that had a very export oriented string in…

I think you may be forgetting the big picture, which is to never have Europe spawning a World War again. In that regard, the fears (rational and irrational) of those with tendencies for isolationism are simply not relevant.

Re: Bulgaria to Adopt the Euro

#35

Post by saturn_vk »

LfLxfxxLxfxx wrote: post #24
aorth wrote: post #2

I happened to be in downtown Sofia last night by chance and saw the massive protest. https://apnews.com/article/bulgaria-euro-protest-nationalist...

If opposition to the Euro is so massive, can't they simply hold a referendum over it?

The Bulgarian currency has been pegged to the Deutsche Mark for more than twenty years now. This means that we’ve pretty much been using the euro since its inception, and any opposition is just a populist manoeuvring

Re: Bulgaria to Adopt the Euro

#36

Post by 4gotunameagain »

Symbiote wrote: post #33
mhitza wrote: post #6

Earlier quoted context omitted.

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.

Is there any trustworthy reporting on this? All it takes is for one chain to round prices down (1-2¢ isn't going to be an issue for them), advertise this, and gain many new customers.

That is of course assuming that widespread corruption does not allow cartels.

The markets are only efficient on paper ;)

Re: Bulgaria to Adopt the Euro

#37

Post by wqweto »

slaw wrote: post #32
akmarinov wrote: post #30

Earlier quoted context omitted.

Bulgaria with no euro had a higher inflation rate than Croatia with euro, soooo… no

With euro it would have even higher. So yes.

Why don't you bring back the kuna to reduce the inflation? Hold a referendum? Why no one believes this will bring down the inflation?

Re: Bulgaria to Adopt the Euro

#39

Post by Mainan_Tagonist »

bpizzi wrote: post #34
Mainan_Tagonist wrote: post #27

Earlier quoted context omitted.

You simply do not know if he is objectively wrong. On the basis of 25 years of Euro, what we have observed is that in the eurozone, capital follows productivity, and countries tend to specialise in line with what their factor endowment and national inclination will let them. The Euro is usually "sold" as a miracle solution when it has only really been successful for countries that had a very export oriented string in…

I think you may be forgetting the big picture, which is to never have Europe spawning a World War again. In that regard, the fears (rational and irrational) of those with tendencies for isolationism are simply not relevant.

what are those odds looking like in the mid future? How many european governments are currently considered on the "extreme" spectrum? And what makes you think the Euro implemented in 2002 is the reason for the non-reoccurence of a war ended in 1945?

Studying the root causes of the two world war would certainly enlighten

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