Bulgaria will soon become the 21st member of the eurozone. For the country, the European currency will be a tool for strengthening its place in the Western world, writes the National Center for Central and Eastern European Studies. Other foreign media are also looking at Bulgaria.
Bulgaria will become the 21st member of the eurozone after adopting the common European currency on January 1. Politicians in Brussels and Sofia hope that this will boost the economy of the poorest country in the EU and solidify its pro-Western trajectory, the British newspaper "Guardian" points out.
Despite the benefits touted, however, Bulgarians are divided, the publication also writes and cites a recent survey by the Ministry of Finance, which shows that 45% of citizens are against adopting the single European currency. In this regard, "Guardian" recalls the shameful scenes in parliament in June, when MPs from the pro-Russian "Vazrazhdane" party blocked the rostrum.
Peter Ganev, a senior research fellow at the Institute for Market Economics, told the "Guardian" that the division over the euro issue is symptomatic of political tensions in Bulgaria. "The country is divided on almost everything you can imagine. "So after the political instability, we found ourselves in a very hostile political environment," says Ganev.
Although the political drama is unlikely to prevent the adoption of the euro, many people fear that prices will soar, and others - that Bulgaria will lose part of its identity. In this regard, the British publication recalls the unfounded statement of the leader of "Vazrazhdane" Kostadin Kostadinov that Bulgarians would lose their savings after joining the euro. Meanwhile, it has become abundantly clear that a network of Russia-linked disinformation campaigns on social media was aimed at undermining support for the euro.
Asked about the alleged Russian influence on public opinion about the euro, European Commissioner for the Economy Valdis Dombrovskis says that it is no secret that Russia is waging a hybrid war against Europe. "This is about provocations, sabotage, violation of European airspace, interference in political processes in the European Union and in other countries, as well as the spread of disinformation".
What do Bulgarians say to foreign media?
Yet 51% of Bulgarian citizens approve of the adoption of the euro, the finance ministry survey also shows. "In the long term, the euro will be beneficial for the country's economy," Maria Valentinova, 35, a pharmacist from Sofia, told the "Guardian". She is happy that her six-year-old son will grow up in a country that is part of the eurozone.
More opinions from Bulgaria can be found in an extensive publication by "Politico", which clearly describes the mood in the country on the eve of the introduction of the common European currency. According to Petya Spasova, 55, an orthopedist in Sofia, Bulgaria is joining the euro at a very inopportune time. "First, the country is politically very unstable, and the eurozone itself is facing serious problems. As the poorest member of the EU, we will not remain unaffected by these problems," she told "Politico".
Svetoslav Boninski, 53, from Gabrovo, is also against adopting the euro: "We saw how Croatia and Greece got mired in debt after adopting the euro. I don't want Bulgaria to go down the same path," the truck driver told "Politico".
Natalia Ilieva, 20, who is studying political science, sees joining the eurozone as a step forward. "This is a positive development for both society and the country. I expect this will help the economy grow and strengthen Bulgaria's position in Europe. For ordinary people, this will make things easier, especially when traveling, since we will use the same currency."
When asked what politicians and institutions should have done to make the transition to the euro easier for ordinary people, 73-year-old Aton Teofilov, a fruit and vegetable seller at the Pernik market, replied: "If you ask me, we should get rid of half of the deputies in parliament - they receive solid salaries and are a burden on taxpayers - like parasites who do no meaningful work."
"The signal that Bulgaria sends with the euro is important"
For many economists, the case of Bulgaria is interesting mainly because the accession proceeded without any major upheavals, writes the Swiss "Neues Zürcher Zeitung" (NCZ). The European Central Bank (ECB) assesses it as a success. But even if technically everything goes according to plan, the political situation is tense: among the population, anger and dissatisfaction with low incomes and widespread corruption are enormous, the publication points out and recalls that according to "Transparency International" Bulgaria is the second most corrupt country in the European Union (EU).
More important than the economic effects is the signal that accession to the eurozone sends: in Bulgaria, the euro symbolizes the connection with Europe. In this sense, the common European currency will be in Bulgaria as a tool for strengthening the country's place in the Western world, the NCC publication also says.