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BNB Governor Dimitar Radev is convinced that the transition to the European currency will proceed smoothly and successfully in the case of Bulgaria as well.
“The ECB very quickly and strongly supported the changes in legislation. This largely indicates the degree of interaction and the process that is going according to the preliminary plan. This is a process that is being implemented for the first time.
I see no reason why the transition to the European currency would not go smoothly and successfully in the case of Bulgaria,” the BNB governor told BNT.
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He recalled that Bulgaria is a precedent, because for the first time the process towards the eurozone begins not only with the entry into the national currency, but also with the entry into the banking union.
According to him, the decision of the National Assembly, which instructs the Minister of Finance Vladislav Goranov to negotiate the introduction of the euro at the current exchange rate against the lev, is in fact a very serious support for the position of the BNB.
Radev also commented on the KTB case and its impact on the banking system in our country.
“CCB will be in public folklore for a long time, but it has no direct connection to the currency board. There are two main reasons for the development of this case – the weakness in banking supervision and the lack of an institutional basis for problems in the sector,” said the BNB https://hata.ug/43-guest-houses-for-sale governor.
The monetary regime, based on the concept of a currency board, is governed by very strict rules, Radev is adamant. Prices in Bulgaria depend on world prices, on the labor market, the economist added.
“Bulgarian finances are stable against the backdrop of an unstable world at present, and the Bulgarian lev is one of the most stable currencies,” said Dimitar
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