site.btaMore Communication Campaigns Needed for Euro Adoption, Says University of National, World Economy Rector

More communication campaigns are needed for the adoption of the euro, University of National and World Economy Rector Prof. Dimitar Dimitrov said during a conference on the prospects for Bulgaria after the adoption of the euro, which was held in Varna on Monday.

Dimitrov noted that discussions are being held on the topic, tables and figures are being shown, but they bring clarity mainly to specialists, not to the general public. He emphasized that this is also one of the reasons why a lot of speculation is spreading. He specified that the claim that Bulgarians are hiding BGN 80 billion under their mattresses is speculation. "The BNB's balance sheet totals BGN 30 billion, and if there were savings under the mattresses, it would be about BGN 5 billion," the expert pointed out.

He stressed that serious arguments are hard to hear, because somehow apocalyptic scenarios are more attractive to people. That is exactly why more flexible communication campaigns are needed at a level understandable to all people, Dimitrov pointed out. "When talking about money, about economic relations, trust is always of great importance," the rector said.

He commented that Bulgaria's entry into the eurozone will have a positive impact on investors, as the country becomes part of a family and it is clear that there is control over the banking system, as well as comparability. "This increases investments because trust increases," Dimitrov emphasized, adding that by entering the eurozone, Bulgarians will have the opportunity to receive support from the European Central Bank (ECB) and Bulgaria will also take part in decisions on future ECB policies.