Bulgaria Belongs to the Euro Zone

April 09, 2019
Bulgaria Belongs to the Euro Zone

Bulgaria’s joining the single European currency will be beneficial to citizens and business

Following the success of the initiative’s previous editions the Bulgarian Business Leaders Forum (BBLF) held the Fourth Annual BBLF-Ambassadors Meeting earlier today. The event that gathers the private sector, the diplomatic corps and senior members of the executive was mottoed Bulgaria in the Euro Zone and was attended by Ekaterina Zaharieva, Deputy Prime Minister and Minister of Foreign Affairs, Ognian Zlatev, European Commission Head of Representation in Bulgaria, Stamen Yanev, Invest Bulgaria Agency Executive Director, and H.E. Stefano Baldi, Ambassador of the Republic of Italy. The event convened ambassadors and senior diplomats from 45 embassies of countries from across the world, and top executives of BBLF member companies.

„We at BBLF share the aspiration of working to make Bulgaria a country that provides economic opportunities, provides decent jobs and living standards. To this end we engage different shareholders in a debate to outline policies and measures that would enhance the business and social environment”, BBLFChairman Iravan Hira said.

„We believe it is important to talk about our further integration into the EU today, on the threshold of the upcoming EU elections. Bulgaria belongs to the euro area”, Maxim Behar, BBLF Board member who moderated the discussion said at the opening.

„Bulgaria’s joining the euro zone will boost security and encourage investment. It is not by accident that it is high on the incumbent government’s agenda. In August 2018 we approved a plan for ERM II membership application that would hopefully be successful in July“, Deputy Prime Minister and Minister of Foreign Affairs Ekaterina Zaharieva said. Adopting the euro as soon as possible is the right choice for Bulgaria, she added.

H.E. Stefano Baldi, Italian Ambassador to Sofia was this year’s diplomatic partner of the meeting. “The euro zone ensures stability and predictability of the environment; it is a process that calls for proactivity and effort as the so-called waiting room is not a place where you wait but a stage that you reach in result of hard work”, he said. Eurozone membership is mutually beneficial and brings benefits to all, he stated.

Deputy Prime Minister Zaharieva and Invest Bulgaria Agency director Stamen Yanev informed guests on the steps that Bulgaria had undertaken on the road to the euro area, while Ognyan Zlatev from the EC Representation dwelled on the advantages of the single European currency for the public and companies.

The discussion was also joined by Anton Panayotov, Alaric Securities CEO, Vladimir Penkov, chairman and senior partner at Penkov, Markov & Partners law firm, and Levon Hampartzoumian, BBLF Deputy Chairman. Members of the business community discussed the positives Bulgaria’s accession into the euro area would bring to companies and investors, and diplomats shared the experience their countries had on their road to the euro.

The meeting was open to the media and was extensively covered by the likes of BTA, BNT (here and here),  BNR (here and here), Nova TV, Bloomberg TV, Focus Agency, Investor,,, Banker, Trud,, Sofia Press, Dnes +,, and many more.

General sponsors: Alaric Securities, Honorary Consulate of the Republic of Moldova in Bulgaria, Penkov, Markov & Partners law firm. Sponsors: JTI, KIA Motors Bulgaria, UniCredit Bulbank.

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