site.btaState Has Mechanisms for Calm, Smooth Euro Changeover, PM Tells Forum on Single European Currency

The State has the will and the necessary mechanisms for the calm and smooth introduction of the euro, Prime Minister Rosen Zhelyazkov said at a forum dedicated to the introduction of the single European currency in Bulgaria, the Government Information Service said. It is important to allay the fears of people and businesses in small settlements related to three things - income, savings and spending, Zhelyazkov said at the forum, organised by the Sofia Regional Administration.

The Prime Minister focused on the benefits for the Bulgarian economy of adopting the euro. At the same time, he noted that the introduction of the single European currency should not in itself lead to an increase in prices.

The introduction of the euro is not a reason, other things being equal, for the cost components of a price to increase or for there to be speculations on this topic, Zhelyazkov said. The Prime Minister was adamant that there was no reason for people to start panic-spending their savings and urged them not to give in to attempts at manipulation.

He also noted that within the framework of the information campaign a number of channels of communication with the citizens are envisaged so that they receive timely and complete information on the introduction of the euro.

Zhelyazkov stated the State's determination to counter attempts at speculation. In particular, the focus will be on essential goods and services. Regulated prices, in turn, are monitored very closely by regulators.