Bulgaria prepares for the euro amid excitement and skepticism

Bangkok Post Group

The Black Sea country on the European Union's southeast frontier will become the 21st country to join the euro currency zone after it met the formal entry criteria this year, including for inflation, budget deficit, long-term borrowing costs and exchange-rate stability. - REUTERS

Transcript

00:01Bulgarian banks, businesses and shoppers prepare to say goodbye to the lev currency

00:06and adopt the euro on January 1st.

00:09It's a long-awaited milestone, met with excitement, scepticism and, in some corners, anger.

00:15Bulgaria will be the 21st country to join the euro currency zone

00:20and bring the number of Europeans using the currency to more than 350 million.

00:26Becoming a member of the euro zone, apart from using euro notes and coins,

00:31also means a seat at the European Central Bank's rate-setting governing council.

00:37Businesses are largely in favour.

00:40Owner of the Dragomir Estate winery Natalia Gajeva says adopting the euro will make business smoother,

00:48both for customers outside Bulgaria and for the winery, which receives EU funding.

00:54Polls show the wider population is split on the issue.

00:58Some fear it will push up prices or are suspicious of a domestic political establishment

01:04in the throes of a crisis that saw the government step down earlier this month

01:09amid widespread protests against proposed tax increases.

01:13In a country with historic, cultural and political ties to Russia,

01:17many are wary of further allegiance to Europe.

01:20I am against it. First, because the lev is our national currency.

01:28Secondly, Europe is heading towards demise, which even the American president mentioned

01:33in the new national security strategy. And there are similar conclusions there,

01:38that both the euro and Europe are heading towards decline. I may not be alive when this happens,

01:44but that is where everything is going.

01:49Some political analysts say the campaign promoting the euro has been weak

01:54and that older people, especially in remote areas, will struggle to adapt.

01:59They said a lack of stable government may further complicate the change.

02:06and we've got the deals for the euro we made.

02:13And I wish to go for the euro to the euro to the euro.

02:16I'm going to go for this undeclidate.

02:18Let's go for this and check it.

02:20I click on the euro.

02:22I click on the euro.

02:25I click on the euro as I drag off the euro.

02:27Since that level is, I am going to enter your euro.

02:29I see you.

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