site.btaGermany and France Back Bulgaria's Efforts to Join Eurozone, Say Ambassadors of Both Countries in Bulgaria

Germany and France are backing Bulgaria's efforts to join the eurozone. This position was expressed by the German Ambassador to Bulgaria, Irene Maria Plank, and the French Ambassador to Bulgaria, Joel Meyer, during a conference on the introduction of the euro in Bulgaria, its effects and practical aspects for business, on Thursday.

The forum, organized by the French-Bulgarian Chamber of Commerce and Industry and the German-Bulgarian Chamber of Industry and Commerce, is being held at the French Cultural Institute in Sofia.

Irene Maria Plank pointed out that she could not predict the outcome of the convergence report on Bulgaria's readiness to adopt the euro, but would like to quote German Finance Minister Jörg Kukies, who, after meeting with his Bulgarian counterpart Temenuzhka Petkova in Washington, expressed optimism about Bulgaria joining the eurozone in 2026.

"From a German perspective, the conditions for membership in the eurozone are clear, and Germany has always supported and continues to welcome Bulgaria's efforts to join the eurozone," Plank said.

According to her, taking public opinion on the euro into account is important, as Germany is a representative of democracy, just like Bulgaria.

Plank noted that when Germany introduced the euro nearly a quarter of a century ago, it did so with the support of a parliamentary majority—something that also applies to Bulgaria, as the parliamentary majority continues to support the country's entry into the eurozone.

The German Ambassador to Bulgaria highlighted that the euro brings price stability, calling for people to trust statistics rather than different personal opinions. "The euro improves stability, boosts growth, and leads to better integrated financial markets," she said.

The euro helps the European Union in terms of its position in the global economy, and with the adoption of the euro, Bulgaria will finally have a seat at the table in Frankfurt, the German diplomat added.

Plank added that she was somewhat sad to say goodbye to the lev, as currency is always one of the first things people notice about a country, but on the other hand she would be very happy and proud to hold the first euro coin bearing the image of St. John of Rila in her hands.

The French ambassador to Bulgaria, Joel Meyer, also pointed out that although he did not wish to predict the outcome of the convergence reports, he was optimistic.

He recounted how 23 years ago, when France introduced the euro as its national currency, this happened against a backdrop of serious debate in the country. "Political parties on the left and right said that there would be an apocalypse if the French franc was abandoned," he said, stressing that he was not making any comparisons with the situation in Bulgaria, but simply sharing the French experience.

According to him, there is currently no political party in France, even among the most radical, that is talking about leaving the eurozone and returning to the French franc. This is because political parties see that the euro is popular among the French, with 74% of the country's population supporting the single European currency, Meyer said.

He said that the introduction of the euro in France has led to a number of benefits, including a halving of inflation and a decline in interest rates on loans.

The French ambassador to Bulgaria noted that the euro protects collective Europe at the dawn of new economic competition and represents a sign of European identity.

Joël Meyer addressed Bulgarian Finance Minister Temenuzhka Petkova, who participated in the forum, expressing France's full support for Bulgaria's efforts to join the eurozone.