Steve Hanke: The accession of Bulgaria to the euro is a very bad idea

The accession of Bulgaria to the euro area is a very bad idea. This could lead to a financial crisis like this one in Greece, it will not solve any problem in the country, it will only lead to a loss of sovereignty

commented the financial Steve Hanke, professor at the l '. Johns Hopkins University in the United States and as a father on the currency board. He added that currently Bulgaria is unofficially a member of the eurozone because the lev exchange rate is tied to the common European currency

Bulgaria has officially announced its intention to enter the waiting room of the euro area on July 12. Moral hazard. "If you enter the euro zone, you will face the moral danger that Greece is facing and Bulgaria will say:" We can be a little more relaxed in our tax situation in Bulgaria, because if we encounter difficulties, we will not be happy. EU will not do it "Greece was officially in the eurozone and was spending money like crazy, Greek politicians were not spending money but stealing money," said funder before the bTV

. do not win anything if they adopt the euro but lose the power of the currency. Replacing the Lev with the Euro will not be a magic solution for all other problems in Bulgaria.

"These are nonsense because the lev is unofficially already in the zone, nothing will change except that Bulgaria will lose a lot of sovereignty, it will be in the euro zone officially, something that does not come out of here So I say it's like the Eagles Hotel California song – enter once, there's no way out, "Hanke said.

In connection with a statement of the magazine Forbes Boyko Borisov that he "must stop listening to Brussels and start turning to win And if you look at Borisov's behavior about it, he was in all the extremes: it is first to adopt the euro, then he does not want to adopt the euro, he does everything he says in Brussels " , he added.