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Parvanov, Chavdar

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Dnevnik - Bulgaria | 05/12/2008

Bulgaria must introduce the euro

In view of the financial crisis the daily Dnevnik calls for prompt introduction of the euro in Bulgaria and compares the country's situation with that in Iceland and Argentina: "Hardly anyone would oppose the introduction of the euro as an alternative but non-compulsory means of payment. Most of the exchange of goods is already done on the basis of euro transactions, property is paid for in euros, and the proportion of deposits and loans in euros is greater than that in Bulgarian lev. In abolishing the legal hurdles to payment in euros we would only be regulating an already established practice. ... Iceland is the most recent example of a country that cannot deal with the crisis. If it had adopted the euro at the beginning of the year it would not have been devastated by the financial earthquakes. The same goes for Argentina: if it had converted to the dollar in 2000, it probably would have escaped the consequences of the ensuing catastrophe."

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