Ten Arguments “For” the Eurozone

09.07.2018

Judging by the Baltic experience – and it is the most recent in terms of the euro – the stay in the Eurozone waiting room [ERM2] is much longer than the required minimum of two years and may take even a decade. What does it all mean for us? The answer is simple: if we have to spend a decade in the waiting room, we’d better enter now so that the terms start running.

This is what Georgi Angelov, senior economist at Open Society Institute – Sofia, writes in an article for 24 Chasa newspaper.

The last Eastern European countries that joined the Eurozone are doing great, because they are prepared. The acceleration of the reforms is one on the biggest benefits of ERM2, because it increases the economic growth rates and thus improves the income and living standard. The biggest global rating agency Standard&Poor’s announced that Bulgaria’s entry in ERM2 will raise the credit rating of the country since it will further increase the confidence in the monetary policy. Entering in ERM2, we will see the benefits of the Eurozone even before joining it, Angelov writes.

Full text of the analysis Ten Arguments For the Eurozone