The digital euro is a bold leap into the future, but it does not mean the end of traditional banknotes and coins. It will bring new opportunities, but also new challenges. However, we share common values and goals, and they are our truest compass.
This was stated by the MEP from GERB/EPP Emil Radev at the conference in the European Parliament "The future of the financial integration of the EU: Expansion of the euro area and creation of a digital euro", reported the special envoy of BGNES in Brussels Dimitar Ruskov.
"The digital euro will bring about a more integrated, innovative, and inclusive European Union. As a Bulgarian MEP, I see good prospects for my country. The choice to accept the euro was already made when we joined the European Union," said Radev.
He pointed out that the reforms are undertaken by our country "bring us closer not only to the criteria for membership but also to the stability that the euro brings".
"We have not yet fully covered the requirements, but we are making progress. The populists present the Eurozone as a threat to our sovereignty. The recently presented Bulgarian euro coins prove that this is not true," said the MEP.
Radev noted that many of the fears in the public come from expectations of inflation growth and rising prices of goods, but statistics in countries that have already adopted the single European currency show the opposite.
“We will join at the current fixed rate. Currency conversion will not be necessary, interest rates on loans will decrease. The economy needs security and predictability, which the euro provides," he added.
EU Commissioner Mareide McGuinness, who is responsible for financial stability, services and the Capital Markets Union, joined the conference with a video address.
He emphasized that he expects Bulgaria to be the 21st member of the Eurozone.
"The euro is practical and useful for people and businesses. Millions of people use the euro, I hope the Bulgarians will soon too. The reasons are not only economic and financial, because the Eurozone is a symbol of a united Europe," she said.
McGuinness pointed out that the economic sphere is changing and Europe must be prepared for it.
"The European Commission proposed the regulation to create a digital euro. We also offer cash as legal tender. So people will have choice and convenience," the commissioner added.
For his part, Pascal Donahue, chairman of the Eurogroup (the finance ministers of the Eurozone countries), emphasized that the single European currency is a symbol of the unification of the continent.
According to him, the digital euro is a topic of particular importance at the moment, the enlargement of the EU and the Eurozone will be the main priority in the coming years.
"The question is not if, but when Bulgaria will join the Eurozone. Digitization is a high priority within the bloc in an increasingly digitized world. The work of the ECB continues and will depend on the legislation in the EU," added Donahue. /BGNES
