site.btaBulgarian Parliament Ready to Back Anti-Speculation Measures Ahead of Euro Adoption

The adoption of the euro as official currency will require changes in Bulgarian legislation to ensure legal compliance and a smooth transition to the new currency, National Assembly Chair Nataliya Kiselova said in a press statement on Tuesday. The experience of the most recent eurozone Member States shows that a general law regulating the single European currency is usually adopted in the period leading up to the accession date, she noted.

The ambition of the 51st National Assembly is not only to regulate the process of euro introduction, but also to guarantee that institutions will adopt measures addressing legislative loopholes that enable speculation, Kiselova noted.

She underscored that the eurozone accession date, the dual circulation period, and the period of dual price display, as well as consumer protection mechanisms, have already been regulated by law.

Parliament is fully engaged in the process, and Kiselova was confident that the legislative majority would take all necessary steps to complete the full alignment of Bulgarian legislation with the euro in areas such as public finance, payment services, the tax system, capital markets, the financial system, and commercial law.