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The work on Bulgaria's membership in the Eurozone has been an irrevocable commitment of all Bulgarian governments after 2007 and of all institutions.

This was stated by the Vice President Iliana Yotova

Iliana Malinova Yotova is a Bulgarian politician, 5th Vice President of the Republic of Bulgaria, at the conference "Bulgaria in the Eurozone - advantages and opportunities", which is being held today in Sofia, BTA reported. 

According to Yotova, the real work and the beginning of the final rights in the process of our acceptance into the Eurozone began in 2018.

The Vice President especially thanked the management of the Bulgarian National Bank (BNB) for the successful work they have done in the past four years.

The BNB is a participant in making more than 200 important decisions regarding the euro, Yotova said and noted the effective work of the interim government in an extremely complex situation. 

Just three days ago, Bulgaria signed a Memorandum of Understanding for the production of euro coins with the European Commission (EC) and the Eurogroup, which is an important step and allows our country to start minting and producing euro coins as soon as it receives approval for membership in the euro zone, Yotova pointed out.

According to her, this is the second significant step after 2020, when Bulgaria was accepted into the waiting room of the Eurozone and when we became part of the European Banking Union.

The vice-president added that this year marks the 20th anniversary of the largest monetary exchange in the world.

On 1 January 2022, euro banknotes and coins were introduced to a population of around 308 million people in 11 countries.

Today, there are already 19 countries that have adopted the euro, with a population of over 340 million people who speak over 20 languages.

The Eurozone is home to 5% of the world's population, Iliana Yotova pointed out

Iliana Malinova Yotova is a Bulgarian politician, 5th Vice President of the Republic of Bulgaria.

The governor of the BNB: The euro will modernize Bulgaria

According to her, in the last decade, Europe has faced several successive and very severe crises with major social consequences, the latest of which were the covid pandemic and the war in Ukraine.

All this put the euro to the test.

The common money market is also under test, and the future of the European economy continues to be questioned.

The upheavals are expected and give radical parties an opportunity to instill fear in the citizens of the European Union (EU), Yotova said.

According to her, however, the negative evaluations of the euro come from the inability of the EU to deal with crises, as European citizens expect, and they want the more serious and effective intervention of the European and national institutions. 

The euro has withstood all crises in recent decades and today 77% of EU citizens approve of the European currency, according to a brand new Eurobarometer survey, Yotova said.

According to her, one big mistake accompanied Bulgaria's accession to the Eurozone, and that is the missing conversation with the Bulgarian society on the subject.

Lack of awareness is the most fertile environment for skepticism and doubt, it leads to uncertainty and it is very easy to fall into the clutches of conspiracy theories.

The latest research by "Gallup" in Bulgaria indicates that 56% of Bulgarians have very serious doubts regarding the euro, Yotova said.

According to her, this means that we have a lot of work to do in order to clarify the questions that Bulgarian citizens ask themselves every day.

People have a right to know, honestly and realistically, 

Iliana Yotova

Bulgaria in the Eurozone

entry into the Eurozone