Public Lecture on the Introduction of the Euro in Bulgaria Held at the Ministry of Foreign Affairs
15 July 2025 News
A public lecture by Associate Professor Kaloyan Simeonov, Doctor of Political Sciences and lecturer in the Department of European Studies at Sofia University “St Kliment Ohridski”, was held at the Ministry of Foreign Affairs (MFA). The lecture, titled “Myths and Realities Surrounding the Introduction of the Euro in Bulgaria”, was organised by the Diplomatic Institute as part of the current training course for junior attaché trainees at the MFA and was attended by a number of ministry officials.
Assoc. Prof. Simeonov, author of the book “The Euro and the EU Member States: Where Do We Stand?”, as well as numerous publications related to the euro area and the EU’s Economic and Monetary Union, described Bulgaria’s accession to the eurozone as a civilisational choice reaffirming the country’s belonging to the European community. He highlighted the upgraded credit rating of Bulgaria by some global agencies in the context of the economic benefits expected from the adoption of the euro.
He noted that the primary objective of the European Central Bank’s monetary policy is to maintain price stability. Combined with increased competition on the Bulgarian market and lower transaction costs, this, he argued, is unlikely to lead to uncontrolled price rises.
Addressing concerns over a possible decline in living standards, the speaker pointed to the country’s post-pandemic economic growth and a parallel rise in wages. He also stressed that the stricter EU rules introduced following the 2007–2009 financial crisis, along with newly developed legal mechanisms at the European level, aim to curb irresponsible fiscal policy. Assoc. Prof. Simeonov expressed hope that joining the eurozone would encourage foreign direct investment in Bulgaria.
During the discussion with participants, he also touched upon the role of national institutions in countering speculative commercial behaviour, the practical aspects of the provisions of the Law on the Introduction of the Euro in the Republic of Bulgaria, and the importance of the currency board in maintaining the existing BGN/EUR exchange rate.
At the end of the event, Assoc. Prof. Simeonov donated copies of his book “The Euro and the EU Member States: Where Do We Stand?” to the Diplomatic Institute. The lecture generated considerable interest and gathered diplomats and experts from the Ministry of Foreign Affairs, as well as the junior attachés from the “Dr Georgi Valkovich” class of the Diplomatic Institute.
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