Bulgaria’s Accession to the Eurozone: Economic Collapse, Nostalgic Prejudices, or a Step in the Right Direction?

Authors:

Pages: 148-155

Abstract:

In its recent history, the Republic of Bulgaria has achieved several extremely important foreign policy milestones. The two most prominent ones are the country’s accession to NATO (the world’s most powerful military defence alliance), and to the European Union (the fastest developing political and economic structure in the democratic community). The next logical step in Bulgaria’s development will be its accession to a stable monetary organization, such as the Eurozone, which would ensure the country’s fiscal stability; this is vital for its economic development. With the approach of the date 1 January 2024, which was indicated as probable for the Republic of Bulgaria’s accession to the Eurozone, serious controversies have arisen regarding the real economic value of such an act.

Keywords:

Republic of Bulgaria; accession; Eurozone; democratic community.

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