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Bulgaria to join euro area on 1 January 2026

ecb.europa.eu

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Re: Bulgaria to join euro area on 1 January 2026

#181

Post by omnimus »

mc32 wrote: post #53
dkjaudyeqooe wrote: post #33

Earlier quoted context omitted.

This is nonsense. Not mentioned is that Greece has borrowed excessively and had defaulted on its loans. A bailout was organized by the EU and IMF with terms that Greece had every opportunity to reject. No one forced anything on Greece. The referendum was not binding and political theater for the government of the time. That Greece accepted the terms reflected the reality that the alternative was much worse and would…

What choice did Greece have? Germany was not extending favorable terms, they were punitive, so what choice did they have but take the least awful choice? Syriza tried but Germany had the upper hand and of course didn't give an inch --though Syriza tried very hard. Varoufakis would argue the severe terms imposed by the creditors/negotiators exacerbated the fiscal issue. Yes Greece had issues but the creditors's terms…

It was disqusting treatment from EU which needed to hide its own recession and blame a culprit.

Every other european media outlet talked about greeks (in very racist way) as lazy nation that doesnt want to work.

Not great look for EU. But i dont know about better alternative.

Re: Bulgaria to join euro area on 1 January 2026

#182

Post by Discordian93 »

Roark66 wrote: post #108
decimalenough wrote: post #22

Credit where credit is due: the EU gets a lot of flack for being bureaucratic, hidebound, sclerotic, whatever, but the single currency has been a success and it's still expanding, 26 years after its creation. Also, the addition of Bulgaria means it's almost possible to travel from Spain to Greece entirely through the Eurozone, with only a thin sliver of Serbia or Macedonia in the way. (Assuming we include Montenegro…

Polish here, very much against adopting the euro until our standard of living and growth rate matches Germany (no at least not for next 10 years). Why? Because the disadvantages far out weight the benefits for developing countries. The biggest issue is giving up one of the biggest instrument of control over the economy to a supra-national non-democratic organisation. Surely the monetary policy will follow what is bes…

I agree, It think Spain adopted the Euro too soon and we'd have weathered the GFC better if we still had control of our monetary policy at the time. And we didn't grow as much as we could have in the preceding boom phase.

Re: Bulgaria to join euro area on 1 January 2026

#183

Post by dmos62 »

raxxorraxor wrote: post #173
PunchTornado wrote: post #165

Earlier quoted context omitted.

who is non-democratic and why?

The EU institution because of pragmatic and systematic properties. Ultimately to say something is democratic or not is a subjective opinion, but EU proponents have made the mistake to brush such criticism away. Since then the EU is mostly developing in a wrong direction.

How is democracy subjective? Because most democracy is indirect?

Re: Bulgaria to join euro area on 1 January 2026

#184

Post by SwtCyber »

Roark66 wrote: post #108
decimalenough wrote: post #22

Credit where credit is due: the EU gets a lot of flack for being bureaucratic, hidebound, sclerotic, whatever, but the single currency has been a success and it's still expanding, 26 years after its creation. Also, the addition of Bulgaria means it's almost possible to travel from Spain to Greece entirely through the Eurozone, with only a thin sliver of Serbia or Macedonia in the way. (Assuming we include Montenegro…

Polish here, very much against adopting the euro until our standard of living and growth rate matches Germany (no at least not for next 10 years). Why? Because the disadvantages far out weight the benefits for developing countries. The biggest issue is giving up one of the biggest instrument of control over the economy to a supra-national non-democratic organisation. Surely the monetary policy will follow what is bes…

The tradeoff between monetary sovereignty and eurozone stability is real, especially for economies still catching up. That said, there's also a risk in staying out too long. You still get a lot of the downsides (imported inflation, capital flow pressures) but none of the influence. It's a weird halfway state...

Re: Bulgaria to join euro area on 1 January 2026

#186

Post by ingohelpinger »

Roark66 wrote: post #108
decimalenough wrote: post #22

Credit where credit is due: the EU gets a lot of flack for being bureaucratic, hidebound, sclerotic, whatever, but the single currency has been a success and it's still expanding, 26 years after its creation. Also, the addition of Bulgaria means it's almost possible to travel from Spain to Greece entirely through the Eurozone, with only a thin sliver of Serbia or Macedonia in the way. (Assuming we include Montenegro…

Polish here, very much against adopting the euro until our standard of living and growth rate matches Germany (no at least not for next 10 years). Why? Because the disadvantages far out weight the benefits for developing countries. The biggest issue is giving up one of the biggest instrument of control over the economy to a supra-national non-democratic organisation. Surely the monetary policy will follow what is bes…

well said. facts.

Re: Bulgaria to join euro area on 1 January 2026

#187

Post by SwtCyber »

v5v3 wrote: post #50

On the one hand, countries with different economic strengths having the same currency managed centrally isn't ideal. But on the other hand, anything that reduces the domination of the US dollar is welcome.

The euro may be imperfect, but it's one of the few serious contenders out there

Re: Bulgaria to join euro area on 1 January 2026

#188

Post by ingohelpinger »

menaerus wrote: post #180
epolanski wrote: post #112

Earlier quoted context omitted.

Yes there's an inflation shock at the beginning, then salaries and everything adjusts.

So, after introducing the euro, and everything overnight becomes ~2x more expensive, salaries will match that trajectory and eventually also become ~2x larger, almost universally no matter the job type? Did I get your argument right? I ask because I don't think this actually has been the case with pretty much any EU country. From what I have seen, salaries will certainly adjust themselves, and they will grow, but the…

lol, that's exactly what hes dreaming of.

Re: Bulgaria to join euro area on 1 January 2026

#189

Post by SwtCyber »

keiferski wrote: post #31

One of the biggest effects of this will probably be increased Western tourism to the resort cities on the Black Sea coast. Which is good, I guess, for the local economy - but I did really enjoy how Burgas felt different from the typical Western coastal resort city when I visited. I hope it doesn’t lose that uniqueness as it integrates into the wider EU economy.

Hopefully the local vibe proves resilient

Re: Bulgaria to join euro area on 1 January 2026

#190

Post by rwyinuse »

isodev wrote: post #151
ReptileMan wrote: post #118

Earlier quoted context omitted.

>that Turks are the absolute evil Devshirme, Janissary corps, Batak massacre? There is huge blood debt that is owed to the Balkans and Armenia by the Ottoman Empire and their successor states.

So, you're describing war? The Russians are doing that to Ukraine right now too btw.

Yep, and if Ottoman empire did evil things, Russian empire wasn't historically any better. At least Turks mostly stay inside their own borders these days, while Russians haven't changed one bit.
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