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"Already everyday goods in shops are listed in euros as well as the Bulgarian lev currency" - a very few, in a pathetic publicity stunt that impresses nobody.....🤣

Having lived and eventually managed the UK going to decimal I've no issues with Bulgaria going to the Euro

Having lived and eventually managed the UK going to decimal I've no issues with Bulgaria going to the Euro - @Kath948381

Decimal was still pounds and, given what a mess the old  system was, not a bad idea.

This is given  control to a group of corrupt  officials.

Having lived and eventually managed the UK going to decimal I've no issues with Bulgaria going to the Euro - @Kath948381

I'm not sure how the UK rationalising its currency by going decimal and Bulgaria adopting the euro can be regarded as in any way equivalent. What's more important is whether the prices here will magically increase as they did when other countries joined the Eurozone....

It's a good idea to adopt the Euro.   

Upside is it'll give less room to manoeuvre for those cooking the books, more price stability (control of inflation) and more independent oversight.   

Downside (amongst others),  less fine control in the economy (however small it is).

If only we (here in Hungary) could have it.  We're in a crisis over here - prices have increased considerably due to creeping devaluation of the Hungarian Forint and increasing debt.  It's a major complaint. 

People used to come shopping in Hungary from Austria. Now, Hungarians go to Austria looking for cheaper prices. Not just lower prices for items, there's lower VAT too.  If we have big ticket items we want to get, we'd rather pay for them in another country assuming the exchange rate isn't that bad.   

It's a good idea to adopt the Euro.
Upside is it'll give less room to manoeuvre for those cooking the books, - @fluffy2560

Except the EU chefs.

The problem simply grows as the small but fancy cars local official have turn into larger fancy cars for EU officials.

The EU is great at corruption.

Frankly, I'm flabbergasted countries join.

The EU is dead, or will be within 10 years, maybe only five.

As Trump dismantles the US economy and that country becomes destitute, countries will attack Israel.

When that happens, there will be a flood of refugees into Europe.

To the delight of the right, the left will welcome them in massive numbers, thus guaranteeing a far right government in almost every country.

The EU will fall to pieces.

@JimJ

How inflationary do you feel it's likely to be? I noticed last week that emag had added prices in EUR as well as BGN, but none of the other Bulgarian shopping sites I frequently look at have done this.

It's going to make things very hard for Bulgarian pensioners and others on low incomes if it's significantly inflationary, as prices have risen so much in the past few years already.

@JimJ
How inflationary do you feel it's likely to be? I noticed last week that emag had added prices in EUR as well as BGN, but none of the other Bulgarian shopping sites I frequently look at have done this.
It's going to make things very hard for Bulgarian pensioners and others on low incomes if it's significantly inflationary, as prices have risen so much in the past few years already. - @janemulberry

More will start doing this now, as the Euro is officially adopted, and it will educate people.

The issue is understanding that your money looks like it will have halved.

1 euro = 1.96 lev,

1 lev = 0.51 euro

fluctuates a little but not much.

So your 1 lev converted to 0.51 euro people see the smaller figure and assume it's worth less.

The issue will be businesses rounding up the prices, 2 lev= 1 euro, that happened in Ireland when they changed.

Also back then1 irish punt = 1.26 euro so people thought everything got more expensive. You paid 1 punt before now 1.26 euro so looks more expensive.

There are a couple of new threads on this country's forum. One is about sewage, and this one is about sewage.

The cost of living in Germany is about 2,000 USD /month, but that's about half for Bulgaria.

I will tell you now, the cost of living is going to rise as the Euro mistake takes its toll.

House prices will be first, then everything else will follow .. then will come the crash.

It will be far too late for those who can no longer afford a house because of the Euro error, but worse for those who can - they will lose their shirts.

@mickg

I think that most people will grasp that concept without overtaxing their little grey cells 😎

However, in many newly-joined Euro Paradise countries, the problem wasn't the perception that their money had magically been devalued but rather the reality that, regardless of what the cash in their wallet was called, its purchasing power had indeed declined.

@JimJ How inflationary do you feel it's likely to be? I noticed last week that emag had added prices in EUR as well as BGN, but none of the other Bulgarian shopping sites I frequently look at have done this.It's going to make things very hard for Bulgarian pensioners and others on low incomes if it's significantly inflationary, as prices have risen so much in the past few years already. - @janemulberry

I'm no economist - and I suspect that in truth neither are many of those who profess to be, since they never seem to get fired in droves on those frequent occasions when they guess wrongly yet again.

My experience in the several countries I've lived in pre- and post-Euro simply tells me that there's a high chance of prices increasing more rapidly than they would have, despite government promises to the contrary. Many Bulgarians are pinning their hopes on the existing Lev-Euro tie - they may be right to...

It's going to make things very hard for Bulgarian pensioners and others on low incomes if it's significantly inflationary, as prices have risen so much in the past few years already. - @janemulberry

Inflation rate in Bulgaria now is around 3.5% while in the Eurozone, it's 2%.  That's quite a difference.   Over here in HU, it's worse. We're on about 5%. 

Wages and pensions are pretty much stagnant. 

So yes, it's not looking good unless one is on say, a reserve currency denominated pension from outside the country with built in inflation rises.

A UK state pension at the basic level would be about 2 to 3 times the HU pension.   And prices are generally higher here for goods and food.  Services are cheaper but not massively.   

We have an general election coming up next year and the incumbent Orban may well be ousted, if not on some right wing policy, might just be on the cost of living, the poor state of healthcare etc.   Maybe if the opposition takes over, we'd get the Euro with a term.  People would no doubt be positive for that, if only to stop the value of their cash at the bank declining.    There was a time when cash was ploughed into property as a hedge against inflation.  I see building work in my area has slowed down a lot - fewer houses, less construction.  People do not have as much disposable income.

Probably same kind of thing is going on over in BG.

@fluffy2560

I could imagine Orban deliberately sabotaging the Hungarian economy if he thought he'd be ousted; it'd be handy ammunition to use against his successor and set the scene for a possible comeback.

Building in Bulgaria is at a frenetic level; here in Sofia it's even higher than it was during the last property bubble, and it's yet to show any sign of slowing down.  Renovated village houses are advertised online at what I'd regard as crazy prices, and it seems to be Bulgarian city-dwellers who are the main target, presumably because the cost of a very expensive (in my estimation) village property (ie in the low 6-figure Euros) won't buy you much in most cities, and certainly not a comparable house.  A two-bedroom new apartment close to the centre of Sofia, totally unfinished inside (ie raw brick and concrete) can set you back €310,000 at the moment!! 😲

The world economies are all crazy at the moment. Especially with leaders willing to gleefully tank their country's currency in order to enrich themselves and their cronies. 

@JimJ, I am also hoping that the long tie in of the lev to the euro will decrease the risk of massive inflation with the change. As pointed out, it doesn't take many brain cells to see that if the new EUR price is much more than half the previous price in BGN, something is wrong.  And 😲 at those Sofia property prices! Varna, where I'd hoped to buy an apartment, is sadly not too far behind. I have almost certainly missed that boat. But worse, it must be very difficult for younger Bulgarians to set up a home.

@fluffy2560 I didn't realise things were that bad in HU. That's sad.

@fluffy2560 I didn't realise things were that bad in HU. That's sad. - @janemulberry

It's dire politically Jane. It's simply dire.

We're not far from an autocracy right now. 

However, we're also seeing talk in the independent media of an Orban successor being groomed.   Believe it when I see it.

I saw George Clooney on CNN saying Trumpism will die with Trump being out of the WH.   It's probably the same with Orbanism.   Once the figurehead is gone, it'll be hard to see it surviving in its present form.

@fluffy2560 I could imagine Orban deliberately sabotaging the Hungarian economy if he thought he'd be ousted; it'd be handy ammunition to use against his successor and set the scene for a possible comeback.Building in Bulgaria is at a frenetic level; here in Sofia it's even higher than it was during the last property bubble, and it's yet to show any sign of slowing down. Renovated village houses are advertised online at what I'd regard as crazy prices, and it seems to be Bulgarian city-dwellers who are the main target, presumably because the cost of a very expensive (in my estimation) village property (ie in the low 6-figure Euros) won't buy you much in most cities, and certainly not a comparable house. A two-bedroom new apartment close to the centre of Sofia, totally unfinished inside (ie raw brick and concrete) can set you back €310,000 at the moment!! 😲 - @JimJ

Probably a mixture of trying to preserve assets and money laundering (maybe?).   There's a lot of property for sale here.  People don't have cash to renovate their homes which haven't been touched for 40 years.  My Mrs has property - houses/land - but lacks the capital to invest.   It's all inherited wealth.

Some people are doing really well - nice houses, Tesla or Mercedes car, kids in foreign universities etc.  Those are the ones who probably have benefited from knowing someone in the government.  Others are struggling.

You can do much better here on an apartment in Budapest than EUR 310K.  Not anywhere near that level.   You could buy a house with garden in the burbs for that.  Not new, but liveable. 

I don't think Orban would destroy the economy.  What he will do is milk the system is enrich his cronies and set them up for life while they will hold his wealth for him.  Rumour here usually is that he would flee to Dubai where the elite stash their wealth in a locally fronted bank.   It's all speculation of course.