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37 sats \ 1 reply \ @rootmachine 30 May \ on: One stacker's pain - the Euro is coming and the prices are already going up econ
Hey! I'm in Romania and yep, we’ve definitely heard about Bulgaria switching to the Euro. I totally feel you on the price hikes - same thing happened in Greece when they adopted the Euro. I remember being there that summer… people were crying, completely desperate. It wasn’t the Euro’s fault though - it was how their government handled the transition and all the other economical things.
From what I’ve learned over time, the Euro can be a really good thing for a country - if the government does its job properly. Right now, I honestly don’t know if Romania or Bulgaria wins the corruption contest… so “Nazdrave!” to that. 😅
Anyway, let me try to ease your mind a bit.
At this moment if we compare prices in Euros, Bulgaria and Romania are pretty close. If we compare based on RON vs. LEVA, Bulgaria actually has better prices. So don’t panic too much - it's just a sort of alignment.
Having the Euro can help your country in the long run. It means economical stability for everyone - as you cannot reference a currency as you do now for most of things. It also improves your international economic position, makes imports/exports easier, attracts investors and helps the workforce. Also, both the government and citizens will be able to access loans at better interest rates.
So on the short-medium term, the main beneficiaries of this move will be citizens - lower inflation (those 10-15% increase every year on everything), cheaper credits (we have around 9% on everything now, you have around 4%).
Yes, prices will go up at first - unfortunately that’s part of the process and it happened everywhere, when they turned to Euro. But if things are managed well, the long-term benefits can outweigh the initial chaos, cause there will be some chaos.
Let’s hope Bulgaria uses this opportunity wisely.
Romanian government was ... weak and didn't catch this opportunity when we met all criteria back in 2015. They wanted us to be struggling with expensive credits and everything. Rumors in our country are that from 2027 we will also begin the migration to Euro.
Hang in there! It will be better for you afterwards.
Update us again in June 2026. Meanwhile, stack sats!
im not sure the gov will do a good job but hey, no going back now!
Since im not Bulgarian, i actually don't qualify for any credit anyway, that's ok tho, i just go old school and put money aside and keep on stacking :)
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