Expert Desislava Nikolova: Bulgaria should adopt the euro as late as possible

07/05/16 06:26
(http://www.klassa.bg/)

Expert Desislava Nikolova: Bulgaria should adopt the euro as late as possible

“Bulgaria should adopt the euro as late as possible.”
This is what economist Desislava Nikolova with the Institute for Market Economics said speaking for Radio FOCUS.
In her words, the country already takes advantage of the benefits of the euro area thanks to the currency board.
“When the euro is adopted, however, Bulgaria will have to join the financial mechanisms for euro area’s stability and support to the bank systems,” the expert warned.
“The Institute for Market Economics calculated the cost of Bulgaria’s participation in the European Stability Mechanism (ESM). The payment increases after certain period of time during which it is relatively small but it can reach about 12% of the GDP. This is not a small sum. It is equal to half of our state debt,” Mr Nikolova commented further.
According to her, sooner or later Greece will have to leave the euro area because the country is not solving but rather accumulating new problems.

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Публикувана на 07/05/16 06:26 http://www.klassa.bg/News/Read/article/269967_Expert+Desislava+Nikolova%3A+Bulgaria+should+adopt+the+euro+as+late+as+possible