@marmite_popsicle Maybe make requirements that your own members comply with then? Imagine if Gulf countries formed an organization requiring its members to be democratic.
That's exactly the reason why. If your workplace only has unmotivated and untalented employees, do you want to recruit the same or aim to attract promising talent?
@@EddieNewmanLED If one employee is "unmotivated and untalented", then it's that employee's fault. If all employees are "unmotivated and untalented", then it's the employer's fault. Anyway, why are you comparing people with countries?
you still have a lot of sovereignty that can't be bought for money, a Government who actually work for their people, a country not destroyed by migration, Hungary will not end up the poorest one for long, those who chose the follow orders from EU/USA will, look at many of the other countries, their issues, violence in the streets, debt growing fast, where do you think they will end?
5 месяцев назад+272
@@veronicajensen7690 lol, orbán imports half a million chinese, vietnamese and islamist migrants, and he has already made Hungary into the poorest country in the EU
@@meshuga27 not really a reliance on german economy, but more like an absence of a long term plan for transformation of our industries into high added value ones. We have insane amounts of "written down" strategies, but we never stick to them long term and when one government starts executing the plan the next general elections usually make a huge political shift, which also abandons the previous strategic plan therefore halts any prospects of above average growth. Fighting populism is also not adding any optimistic prospects for years to come. The problem is the same as in almost any democracy - uneducated or uninformed people participate in elections and there is a lot of these voters, who try to vote for the "next savior" instead of political views.
It was really bad (arrival of gas price shock with previous government spending under Covid made it hot for two years), yet the numbers here are bit lagging By spring Czech gov got inflation back in “czech” 😊 (under 2%)
@@Mido_ Because we would not only lose some of our patriotism by losing our Own currency, we would be more easily influenced by the west, and the idea is from tusk(our hated prime minister) and Tusk is anti-polish and pro-euro meaning majority of the country hates him and his ideas, such as "zielony ład", aka limit your Citizens as much as possible Under the pretext of saving nature to increase your ongrowing influence (as a high rank) and Destroy the country and after that flee to your 5 Star villa in Spain.
it´s not an issue because no one wants the euro in sweden and should not be 55%, it´s just some parties are open for debate but if it would go to a voting I would guess it to be 80 against and 20 for
I'm really hopeful for Crna Gora's accession to the EU soon! But I don't think it'll be as soon as the start of 2026 - the date currently most likely for the adoption of the euro in BG.
@@milaenlommer9732 Actually that's not true. Any country can use another countries currency, however those countries are not allowed to print the currency. No Euros are printed in Montenegro, as those Euros wouldn't be valid anyways. This is why many nations in South America have adopted the US Dollar, they cannot print any dollars, but they can use it as their official currency and with this bet on the Dollar having a lower inflation than their own currency.
@@teaser6089 If a country cannot print money, from where do they get the foreign money? For instance, from where does Montenegro take the euros to function as a country?
I am Polish and I was fully on adopting the Euro for more than a decade earlier on when Poland joined the European Union in 2004. However joining the Eurozone means inability to set our own interest rates according to the performance of the economy. This is actually more important than a few advantages that the Euro brings. Besides, we can still borrow money in Euro at low interest rates and at the same time we can save money in Polish Zloty at a higher interest rate.
@@CHALETARCADE Having our own currency most importantly brings us more freedom. Adopting the euro would make Poland more dependant on the eu economy rather than on our own and how it shapes.
The Euro isn't stable. It's subject to the will of Washington. If Washington blows up our energy infrastructure and then sells us gas for 3x the price... We can't do anything. Where as Poland could buy it's own energy and its currency is independent of the suicidal Washington Enslavement. Anyway, with tusk in power it's hopeless for Poland anyway @@CHALETARCADE
@@Badger99873 This is natural if you want to be a member of the EU. I would really like if the EU would said you either adopt the euro or leave the block. Fully integrated, but smaller market is better than this tbh.
2:13 A note, Bulgaria managed to stabilize the inflation under 3% since March(meaning almost 6 months of 2.3 to 2.5), which means that in a couple of months, the country will ask for a revaluation report. Bulgaria has a high chance of getting in the middle of 2025.
I still doubt it will come so soon.. most of the Bulgarian money is under corruption and illegal stuff... they will postpone the euro until they launder it all completely.. and then the euro will come 😅
The majority of Swedes do not want to switch to the euro. Only about 34% are for the euro and 66% against. So it is not true that 55% want to switch to the euro.
I grew up in southern Poland not far from Slovakia border. When I was a kid we use to go shopping to Slovakia because it was cheap and nice there, much better prices than on Polish side of the old border… but after Slovakia adopted euro, everything change. We stop going there because it was simply too expensive, but Slovaks start coming to Poland because it was cheaper on our side of the old border. I know that Germans living not far from polish border like to make shopping in Poland, because it is simply better deal… I don’t know much about international monetary law and stuff… but I know that Slovaks I meet wasn’t very happy about euro. As amateur coin collector I will be happy to see “polish euros” but as citizen I’m bit worry about it.
That is not related to the Euro, it is related to the level of development of the economy. Swiss people cross the border to buy in France, Italy, and Germany for instance.
I was in Poland few months ago, and the prices are almost exactly the same as in Slovenia who has Euro for years now. EURO isnt the only thing affeting the prices...nor is inflation.
@@gregjuicey yes, our central bank is not disconnected from the gov and last years populist party mismanaged polish economy. I address time after Slovakia transition to euro. But you right, prices in Poland rose to similar level as in rest of Europe… earnings didn’t 😂
Adopting euro by itself does not guarantee neither economy improving nor degrading. Internal politics play the major role and if the government fails after adopting the euro then blaming the euro is just a red herring
We will probably fulfill the inflation/stable price criteria by the end of this year and thus will be fully elligible. The only problem at this point is the government. We don't have any. After every election the parliament gets more and more into the political deadlock with nobody wanting to compromise to make coalition with the others. That is understandableas the population is divided and whoever makes a compromise and makes coalition with another party will lose their own voters.
in 2006-2008 there were riots because the forint-euro conversion rate was 260 forints - 1€ in 2022 the conversion rate reached a record low of 420 forints - 1€ and nothing happened now, it's around 380/390 forints -1€ and euro is a second (nonofficial) currency here, used more and more often in many areas of life because it's waaaay more stable and it's not linked to a government which has lost its common sense at least 10 years ago
I agree that Bulgaria is a given for the next member. Probably mid 2025, maybe 1 Jan 2026 if they struggle a bit with their inflation. After that it really comes down to politics over which governments want it most. I mean yeah, Romania is the only other country actively pushing for it, but they still have a looong way to go. So I think a Sweden or Czechia could easily follow after them if the Governments move to pursue that. Still, Sweden would need a public referendum on it so they may still be a few years away. Got to make sure that the referendum is a guarantee since a failed referendum could set them back years or decades. For that reason I would actually put Czechia ahead of Sweden. Poland in 4th then. Both Romania and Hungary have a long ways to go, but if and when Orban gets toppled, Hungary may start progressing rapidly. I also wouldn't count out Denmark. Yes they have an Opt-Out, but they can always choose to remove it. This definitely wouldn't happen anytime soon, years away at least, but it could and I think will happen. Polls do seem to show an uptick in support of Euro-adoption, though still far under 50%. But I do have to wonder what would happen to Public Opinion in Denmark once Sweden joins. That could easily lead to a major shift in Denmark over a few years since Sweden and Denmark are so intertwined.
the public opinion in Sweden don't change policies in Denmark, for years and years they thought we were racists due to our migration laws, now they wish they had done the same, there are many laws and opinions different between Denmark and Sweden although we have many things in common, 26% of Danes would like to join the euro, we have had several referendums about the euro there is now only 2 political parties who want the euro one party get around 8% of the votes, the other around 2%, joining the euro is the stupidest thing a country can do because then the EU had full control and can shut down the economy as they did for 2 years in Greece and Cyprus , people couldn't get their own money out of the banks, they could only withdraw 50 euro pr day, the amount the slowly got higher over time, any country could be in a situation where their debt is to high according to EU, or the country don't play by EU "values" we have all seen how they punish Hungary and Poland because they won't accept migrants, with euro it's easier because it's the entire economy they can shut down, it also makes it very difficult to leave EU, I can say Denmark is not so pro EU as people think, the population have been convinced we have to be members because "look at UK" propaganda that completely ignores EU's own economy downfall on the world stage and the other 160 countries outside Eu not having the UK issue, incl. Switzerland, Norway, Iceland, Faroe Islands, Monaco ect. having no issue outside EU, however you never see an EU flag in Denmark unless it's an Embassy, you do however see the Danish flag everywhere, Danes are very nationalistic so I would not count on us ever getting the euro, before that day come there is no such thing as EU
@@veronicajensen7690 Congrats, you're very smart people. Both on migration and the Euro you've taken some very good decisions. You didn't fall for propaganda gullible people easily fall for.
@@veronicajensen7690Denmark has not had a monetary policy for how long? Thirty, forty, fifty years? This made sense while you used the DM but called it 3.81 crowns, but now I guess you just love leaving money to your banks every time you travel.
@@veronicajensen7690 do you know that your currency is already pegged to the Euro? So you don't devalue against the Euro. You are stick with the EMU but you don't have a say in the ECB. This is your stupid nationalism at his best. I've always found it very strange: a so advanced and civilized country, so stupidly nationalist.
The thing with Poland is that when everything goes well and we meet the criteria, people are like "we don't need Euro, everything is fine". And when there is a period of high inflation and people are like "well, maybe Euro would be a good idea" then we don't meet the criteria xd
@@LoostycI don't think so. The German constitutional court has made some decisions against EU treaty. Every member is still sovereign. But, I'm no lawyer, so happy to be corrected.
@@Loostyc I am well aware of Van Gend & Loos... However, some member states (and I think Poland is one of them) claim supremacy of member constitution over eu treaties. And the polish constitutional court with justices chosen by PiS will see it the same way
in my opinion there is a paradox that could hold back, at least in the short term, these nations from adopting the Euro: 1) If inflation is too high, they cannot join the Euro. 2) If inflation is low, these nations may have the perception that it is not necessary to join the euro. (I'm talking about perception since in reality stable money does not always indicate a stable economy, a nation can buy its own currency to keep its value high, as happens in Russia)
YOu're right, I see it in Czechia - when our currency seems strong, there are voices not to join euro, because why would we do that. When our economy goes sideways and inflation goes up the euro average, there isn't possibility to join euro, because we don't meet criteria. It's Catch 22 of public/political opinions. We should've join euro, but we are too lazy to do that / government is too scared to do that. I think in near future (10-20 years) is joining euro out of table.
Romania is the only country that meets both public and political support, and it has been that way since we joined the EU, even back when our currency was stronger than it is today, so you can probably bet that if we meet all the criteria dictated by the EU we're going to join, it's probably not going to be as soon as 2026 though and certain european counties have sabotaged our tries to better our economy (i'm referring to Austria denying us entry in the Schengen space which would have made commerce a little easier)
@@slavomt5832, which is only natural if your goal is to reach and surpass the EU's average since money makes more money. I started to work in 2021 after graduating from the university with a business bachelor's degree. Back then, my first salary was 700 euros after taxes in Vilnius, where I'd have to pay 300 euros for a two-bedroom apartment far from the centre. At first, I thought it was not enough. I mean, how can I survive? In 2024, my salary after taxes increased to 1600 euros and the rent to 500 euros per month, for a two-bedroom apartment, which is even further from the city centre. Now, I'm not saying the prices of services are stable (the rent increased by 67 percent.), but my salary after taxes more than doubled, surpassing the high increase in prices. No wonder Lithuanian youngsters are some of the happiest in the world. I can second it to my personal experience and convergence over the past 3 years.
🇧🇬🙌🏻🇪🇺 If we're being honest, the actual support for adopting the Euro in Bulgaria is greater, but the parties funded by Russia are doing everything possible to distance us from the developed Western countries. Russia is the one harming all Eastern European countries.
Братле няма никаква причина,да си загубим лева за еврото,не няма да си подобрим икономиката,няма да имаме по-големи заплати и не няма как еврото да е по-добро от лева понеже те са едно и също нещо.Няма причина ние да приемаме еврото,та ние вече го имаме,просто имаме финансова независимост,което е много важно именно заради това Великобритания,Полша,Швеция и Чехия,не искат да го приемат.
@@bulgarianempire5628 По-голямо противоречие не бях чел скоро!Хем еврото и лева са "едно и също нещо" , хем лева е по-добър(незнайно защо).Хем не сме го приели, хем "ние вече го имаме"...Обяснявам, за да не стане като във форумите дето някой пита, а всички му се карат. НЕ, не сме независими с лева както на някой, получаващ по 4000 лева месечно с превод от Сбербанк му е наредено да говори.НЕ, не сме независими с лева, както на някои им се иска.НЕ сме независими въпреки лъжите, които ви говорят проруските партии. В момента лева е една хартия обезпечена с евра, а решенията за еврата ги взимат други, защото ние нямаме право на глас.Това е така още от както въведохме валутния борд и ще продължи да бъде така, докато изпълним ЗАДЪЛЖЕНИЕТО си, да се присъединим към еврозоната. Бедни държави в еврозоната няма - това е най-големия и необорим довод срещу всички лъжи. България има нужда от чуждестранни инвестиции.На никой не му се занимава да превалутира в неизвестна валута, да плаща такси и т.н.Това най-очеизвадната полза, а те са много.Виж Хърватска - инфлацията веднага спадна.Отбелязват ръст в туризма втора поредна година.Цените не са се вдигнали както лъжеха и там.
@@bulgarianempire5628някои неща са така, но с други не мога да се съглася. Говорейки за себе си - еврото ще помогне много за бизнеса, защото практически няма банка, която да не те цеди яко, когато искаш да купиш лев лева. Става едно постоянно купуване и продаване на валута, което е просто подаряване на пари на банките. Относно БНБ - докарали сме го до там, че лично аз (сигурен съм и други хора) вярвам повече на Европейските от колкото на Българските институции... Виж КТБ, ББР, вълци и т.н. Корупцията ни убива и честно не виждам сами как ще се оправим с нея. Имах надежди, но умряха вече. И последно - абсолютен факт е, че про руски партии правят всичко, за да съботират приемане на еврото, включително и откровени лъжи. Защо е така, мога само да спекулирам. Моето мнение, е че не им пука грам за това каква ще е валутата, а просто го ползват като лост за разделение на народа, защото това разделение много помага в една хибридна война, която се води срещу България (и Европа като цяло)... както ползват и джендъри, и война, и Македония, и мигранти, и ковид, и маски, и вятърни централи, и шистов газ, и златодобив, и т.н. Та според мен еврото ще донесе доста желана стабилност, без кой знае какво да се промени. Ще поживеем и ще видим.
@@bulgarianempire5628 Братле, моля те първо научи се да слагаш интервал след запетая, елементарно е. Второ, финансова независимост и в момента нямаме, БНБ не взема независими решения относно паричната политика за лева от 1997 година насам, иначе валутния борд би пропаднал. Приемането на еврото може да ни е само в позитив - ще доведе до по-високи чуждестранни инвестиции и ръст в туризма, както се случи в Хърватия след като тя прие еврото в началото на 2023 година. Плюс, Всички решения относно паричната политика на еврото се взимат с гласуване между делегации от централните банки на държавите-членки, което значи че след влизането на България интересите на източноевропейските държави ще имат по-голяма тежест в този процес.
You forgot to mention that Swedish parties agree that the country will only join the Euro if there is prior public approval in a referendum, it was held in 2006 and the majority voted against it. Same in Denmark.
As a Pole, I was once enthusiastic about the Euro, but after many years I see fewer and fewer advantages of joining the common currency, at least for now. The euro zone is characterized by economic stagnation, which means that monetary policy has different goals than in the much faster developing Polish economy. Having your own monetary policy in a relatively large economy like Poland also gives you greater flexibility. Our approach has proven that over the last few decades we have been able to get through various economic turmoil better than most countries. Additionally, after Germany used its strength against countries such as Greece when it was in crisis, the willingness to quickly adopt the euro in Poland evaporated. And finally in the times of online banking, tools such as Revolut and Google Pay, exchanging currency while traveling practically ceased to be important because anyway no one uses cash to pay anymore.
@@dontobillo But we follow all the rules. We simply do not meet the criteria set by the EU to join the common currency and I do not see any party on the horizon that would be ready to murder its own economy to achieve this goal. :) Especially in the time when we are under economic stress to modernize the army and protect the eastern European border. I also don't see any chance for EU to survive if any other big country would live it now so don't wish bad to all of us
Yah, and what exactly do you expect it will do? Except devaluating levy, destroying all savings, and being 100% fiscally dependence on unelected bureaucrats?
@@Штефан12 The 1 leu note is identically sized with the 5€ note, 5 lei with 10€, 10 lei with 20€, 50 lei with 50€; though not 100% identical for more recent issues, the 100 lei note has the same size as the 100€ note from the 1st series, and the 500 lei note is the same size as the 200€ note of the 1st series.
another fun fact: romanian bank notes are made out of polymer, like the canadian dollars and australian, which are much more resistant to liquids and tears
Thank you for analysing Bulgaria. Your videos are getting better and better. Bravo. I can assure you that the public is not generally in favour of the Euro as you very correctly stated. The thing is being treated as second class EU citizens regarding Schengen similar to our Romanian neighbours, even though it is not related at all. Many Bulgarians feel the lev as a national pride as well, so the issue is very complicated. There was inflation when Croatia adoped the Euro as well, but got "accepted", so they can be both Schengen and Eurozone members.
Any government in Poland which would press on joining the Euro would be removed fast. Everybody can see what happened in those neighbouring countries which accepted Euro.
@@prenti1205 I would say that's not the only factor. The general public is well aware of more economical means to withstand a regional/global crisis than being closely tied with one of most rich countries in the world like Germany and France. The video mentioned that..
@@andreab2114 Every currency is suppose to: 1. Serve as a mean of exchange withing the country 2. Be freely and easily exchangeable to other currencies, especially to the major ones (USD, EUR, GBP, CHF, AUD, JPY...) 3. Adjust export/import prices by adopting variable exchange rate to other currencies, according to economical situation of the country/countries using it. PLN fulfils these requirements with flying colours, therefore PLN is not sad, it is joyful enough. Poland going through the financial crisis without too much trouble is a good enough proof.
Anyone in Poland who wants Euro can freely buy Euro. No problem with that. We don't need Euro as our main currency. We don't want to follow the path of Greece or even Italy.
In Denmark more and more smaller parties have started talking about adopting the Euro, the agreement from 1992 might soon be sat aside as we could also adopt it
no. that'll take a general vote in the population, and while little politicians might feel different, the population still feel pretty strongly about their currency.
@@fex144 Making decisions about value of currency you use is not a benefit? Or you mean that pegging Danish currency is not beneficial? So Danish governement makes stupid decisions and if they were not following EU they would magically start smart decisions? So it's either way: they know what they do and it makes sense or they are stupid and they would make stupid decisions when not following Euro.
@@adaslesniak Look up GDP for EU Countries. Denmark has consistently had the highest surplus percentage of anyone for the latest five years in a row, and has been at the top three for about 10 years more. It is not an advantage to Denmark to get the Euro. If anything, the Crown should be strengthened against the Euro instead of 7,45 -to-1 as it currently is, it should probably be 6 -to-1. And also; That singular currency is less prone to corrupt movement. No one can take kroner with them to Spain, or anywhere else and use them. It is not stupidity. It is a feature not a bug. Denmark is not ineffective. Denmark is in fact the least corrupt country in the world.
No, Poland agreed to join the Eurozone in the accession treaty that was voted in a referendum. However, no date was set and Poland has the right to postpone this moment ad infinitum. However, if we are to join the Euro, part of this decision on the Polish side is to change the constitution, which can be done by referendum (or parliament, but there is certainly no constitutional majority for this, and it probably wouldn't pass in a referendum either).
If Sweden joined when the Euro was introduced everyone in the country would have been at least 30% richer compared to today. The Swedish population is getting poorer and poorer for each day we opt out.
Det är mycket bättre att ha en egen valuta som vi själva kan kontrollera. Euron är inte bara en valuta utan också ett banksystem. Vi vill inte flytta den makten till andra länder som inte har Sveriges bästa i sitt intresse.
@@latse3777 How did you get to those numbers? Do they account for the loss of fiscal control which would lead to increasing inefficiency in our markets and reduce growth or are you just comparing the exchange-rates of the currencies like a simpleton? The loss of control combined with the french debt crisis, which will happen because the left will not reduce spending after promising to increase it, makes the euro less of a pro and more of a con. Swedes are not getting poorer they are simply trapped in debt caused by the 0% interest-rate of more than 10 years leading to people being retarded because money is "Free".
@@HenrikoMagnificoSweden is a member of the EU, and it mostly trades with €zone members. Having the Krona is good for investments (even tho I'm not sure Sweden is such a good place to invest, I mean, it's a developed country, not an emerging one), but is catastrophic for imports and trade. I mean, a € earner is way richer than a Krona earner, because 1€ is not equal to 1 Krona. Having the euro would allow "fair trade" with the other European nations (which are the largest trading partners of Sweden) because you would have the same currency. Also, having a stronger currency would help in dealing with global superpowers like the USA or China, and the international status and spread of the Euro is not something to underestimate. Some have stated that, by adopting the Euro, Sweden might be able to preserve its amazing welfare state, which has caused several discussions. The euro is more stable. Moreover, being an EU member you must follow some ECB lines - and it has been noted how Sweden does follow most of those lines - tho without having a seat in the ECB council. That implies, your sovereignty is being threatened. It is not the Euro to threaten your sovereignty. On the contrary, it is to be in the EU without adopting the Euro. So, you must adopt the Euro, or you must leave the bloc. But Brexit has shown what happens to be alone in 2024... Hope this clarified! Ofc I'm not Lagarde or Draghi themselves, I might be wrong 😅 but I'm pretty keen on politics
Hi, thanks for the video. Are you planning to do a video that summarizes the current discussion on the euro in Sweden? I read something in the past months but a video about that will be awesome. Thank you.
Using criterion as the singular, you speak English better than natives, and your pronunciation is so good only one syllables made me look up your channel details to find out if it wasn't just an advent quirk. Your English is impeccable sir!!!
Understandable. As a dutch person we see positive and negative things about it. Sometimes it feels like united partnership, And other times it feels like (unfairly) not having your own ropes in hand. Also the lefts have too much power in the EU, so me personally hope that the last elections will make some change in it. it is some ultra western shii sometimes
ekonomisci nawet nie moga sie zgodzic w tej kwestii a tutaj jakies anony w internecie mówia ze euro albo bardzo zle albo dobre, przy czym tych pierwszych chłopsko rozumowców jest znacznie wiecej w internecie xd
Hungary least likely, definitely. No political support at all and not to be seen until Orban and his camp is out of power. Romania, Czechia has Eurosceptic opposition on the rise...Poland is fairly big and currently successful, they will hold on...Sweden has seen some Krona devaluation, if that continues that might make them become more favourable, but also very controversial.
That poll presented in the video goes against all of the national polls here in Sweden, which show a 20 % gap between adoption and no adoption, with over 50 % of people being against.
Bulgaria has been one of the most fiscally disciplined EU members for a while and should be in the Eurozone if desires. Land Schengen borders are a must too. Then the economy will skyrocket. Now, another problem is the Russian influence in countries like Hungary, Slovakia and Bulgaria. Their political elites are often corrupt by the Russians and as a result there are either pro-Russian autocrats like in Slovakia and Hungary or inability to form a stable government like in Bulgaria. A good sign is that despite that the economy and the banking system are robust and functional. One of Europe’s main challenges for the future will be to curb corruption and foreign influence by Russia and China.
Bro we are more corrucpt by the American influence rather than the Russians. Our politicians are kissing the asses of Americans. To be honest we need to not go in the Euro and protect our currency.
One example is Dundee Precious Metals we sold a Gold Mine to the Americans that makes trillions fucking trillions man I calculated the amount they have stolen from our lands. Let's say we have 7 million bulgarians (a little bit less due to more immigrating) I have calculated that if each and every bulgarian get's Equel amount for each person from the extraction of gold that would be around 6-7 million lev by each person which is 3-3.5 million euro so West nowadays has more influence over us. And Bulgarian politics don't care who it is it matters if they are getting a share from the pie that's it
Bro 100% no poland no one don't want euro in us country, me too. 47% it's overpriced maybe 30% but this is only because of the ideology of the favorable parties that want to unite in the EU. Poles do not want to be part of something, they want to be a separate country, we can cooperate but we do not want anyone to decide in our matters and the majority believe that the EU is already interfering too much in our country.
And you shouldn't. I am Italian and adopting the Euro destroyed my country. Prices went immediately double and wages remained the same. We went from doing well to almost starving.
I hope that Poland will not adopt this crappy currency, because the situation of many countries has shown this, that own currency helps a lot in the development of the country and in critical situations.
It's not a crappy currency for sure. The only real competition the USA dollar ever had. It's just that your country is a crappy economy. 😂 Funny how Germany, France, Netherlands, Belgium, Luxembourg, Finland, Ireland, Slovenia, don't have ANY problems with euro. But crappy countries like Poland, Greece, Portugal, do! In the long term, EU members that don't use the euro will have to leave the EU. No more HUGE EU funds for Poland. Oooops.
In Slovakia is it the opposite situation - without euro we have no country development, but the mafia development instead. The current komunist/fasist government would steal all country money, but europe with euro is stopping them from it.
I hope my country of Poland won't be so eager to join the euro zone. It would destroy our economy, the euro only serves the big players like Germany and France.
Well, Petr Pavel said he wants the Euro for the Czech republic although he knows it is not popular among the people. Prices will skyrocket in CZ and they will face the faith of croatia.
There is no way to convince a nation of nationalists like us to exchange the most sacred thing, the Bulgarian lev, which is 146 years old and is the oldest currency in the EU, with the euro. In addition, the ECB itself rejected Bulgaria for the Eurozone, thus disappointing the few people in the country who wanted us to accept the Euro. No economist can know better than us in Bulgaria what the economic situation is.
@@ivani3237 Slovakia and Czechia are both export-oriented economies with Germany being the largest trading partner. It makes no difference if you use the Euro or have your national currency - if Germany goes down the drain, you will go with it. Regardless of what currency you use. There is a practical benefit to the Euro - no exchange of money when traveling to other countries that use the Euro. No conversion risk that businesses have to plan for. No swinging of real salaries if you work outside the country where you live (like I do - live in Bratislava, work in Vienna). And mostly - no scammers in the streets praying on tourists who need to change the Euro to your local currency. Also, no bank fees for exchanging money.
@@ivani3237Czech perspective: initially after Euro adoption Slovakia showed spike in growth, which looked like they might catch up to us soon. The spike growth somehow lost strength though. (there might pretty important internal political reasons behind it in Slovakia rather than just integration into EU economy. The Sk govs looked pretty troubled to me)
As a Pole - EU's absurd attachment to austerity is slowing it down. Current anti-deficit procedures are the reason why the US economy is skyrocketing and countries like Germany are left behind. We would loose our money creation ability in exchange for budget cuts, because any national debt would be indistinguishable from foreign currency debt. For me it has to be Euro AND an actual European Federation with actual monetary union. Otherwise it's pointless and no emotional arguments about "unity" matter, because I don't consider countries like Sweden or Denmark to be less of an allies because they use crowns.
The euro is a disaster for the economy. Southern countries have shown it. The level of unemployment in Italy, Spain, Portugal and Greece is quite high + large debt. Countries such as the Czech Republic, Poland, and Romania with their own currency show much better results in terms of the country's development and export growth. Plus, the Euro will not be able to save from inflation. A vivid example is Lithuania, Latvia and Estonia, where inflation during the coronavirus was higher than in Poland and the Czech Republic.
those things aren't (directly) consequences of being part of the €-zone. the high debt (as % of GDP) of the Southern European nations is a bigger reason of why those nations do poorly (compared to North-Western Europe). more debt means more interest being payed over that debt, more interest being payed means less money in the budget to spend on your citizens/country. so if they lower their debt (and in the short term that is painful), in the future they will have more money left over to support their citizens. also it doesn't help that a lot of the economy of those nations is tied to the tourist sector, that sector is to volatile to have a stable economy. if weather, inflation or any other disruption occurs vacations and going out are one of the first things people will start to spend less money on. as for why the Central European nations do better (in development) is simply because they had a lot of room to grow. 30 years ago they were Soviet puppets (in one way or another), and after the fall of The Wall and joining the EU they have had a lot of help to catch up to their Western neighbours. and that shows in the leaps forward in quality of live, GDP growth, and average income. as for the inflation levels of the Baltics. that is something i don't have enough knowledge of to weigh in on. as with everything being part of the €-zone has it's benefits and downsides. and it is important to try to eliminate the cons and make the benefits better/bigger. but for most members the € has been beneficial (it might take a bit for the benefits to materialize but with time every member reaps them)
5 месяцев назад+8
and in Hungary we had 30% inflation since 2020, despite having our own currency
The situation with Hungary is different. If you look at the graph of your currency and exports of Hungary, then in 2010 you had a turning point. Then Orban came to power. But since it is more important for Hungarian society to annex the territories of neighboring states and talk about "Trianon", and be friends with Russia and Turkey, than to vote for parties that choose the European vector of development.
We in POLAND are happy 😃that we do not meet the Eurozone requirements. Thanks to this, we have had the highest uninterrupted economic growth for 30 years, and recently the lowest unemployment in Europe. The Euro means poverty for the working classes - high prices and low competitiveness. The beneficiaries of the Euro are mainly Germans. Keep this Euro to yourselves.
O - OH NO! THIS IS EUROPA! THE MAJORITY COUNTRYS, D O N'T USE CYRILIC LETTERS! BULGARIA EITHER ADJUST TO THE REST OF THE COUNTRYS, AND N O T USIN CYRILIC LETTERS, OR STAY OUT!
I was in GERMANY at the change to euros. The rate of exchange was 2 DM for 1 EUR. Yes, but one day I paid 65 DM for the hotel room and THE NEXT DAY I PAID 65 EUR INSTEAD OF 32,5 EUR . Who is next willing to lose overnight half of the purchase power. This is THEFT.
Exactly what I was thinking will happen when we join the Eurozone. I'm from Bulgaria but with our purchasing power not beeing the best, I don't think the euro is a good idea now. Also our currency is pegged to the euro so if I go now to exchange my lev to euro or in a year it's still going to be the same. I just don't see the benefit.
When Finland joined EU, against our Constitution making our then politicians just traitors, my late father commented "now Hitler's plan is almost fulfilled in Europe, just the flag is different". The Brits made the right, patriotic decision, Brexit. Like my father wanted to see, and saw, the collapse of the Soviet Union, I would like to see Fixit, and finally the collapse of dysfuctional European Soviet Union, EU. Almost every well doing country has had net harm from joining EU. The plot of DDR, ordered by the Soviet Union, the "Green Movement" has now crippled our energy production, just like Soviet Union wanted. As is documented, DDR ordered West German communists to join forces with former Nazis to form a Green party, as both hated the West and wanted to harm the Western industry. It was 1970, and the Green Party was established 1976, in the opening ceremony a picture was taken "the picture all the Greens of the World would like to destroy"; the communists celebrated with those old Nazis. Now we have wind power. And huge electricity bills...
I am Dutch. I find the euro useful for payments in the euro countries. No more currency exchange. Many countries in the world also accept euros, so it is easy to spend on holidays. But after the introduction of the euro, products have become more expensive in the Netherlands. The euro was worth 2.20 Dutch guilders: for example, a product costs 1 guilder = 0.45 euro cents. But in stores this was rounded up to -> 0.50 euro cents. 25 guilders = €11.34 -> €11.49 50 guilders = €22.68 -> 22.99 In the first 5 years I also had to get used to converting euros to guilders in my head. Because with the euro prices everything seemed cheaper by half.
Let me tell you a secret. Prices are rising even without the euro. Any country that does not use the euro will confirm it. In the last 3 years, cumulative inflation in Bulgaria has been over 30% even without using the euro. That's just how the economy works. The other is communism.
Interesting post. Thank you. Difficult to judge how much inflation affected prices in the year of the changeover. Dutch exports to other Euro countries now has no currency exchange of course and imports from those countries should be cheaper but did inflation wipe out the gains? All in all though, trade is easier. And travel, as you point out.
@@Julian-zj2qy It is not difficult. There are statistics for these things. Inflation in the Baltic states (most recently joined, excluding Croatia) was 0.1-0.2%. That's practically nothing. In Bulgaria, the biggest opponents of the Eurozone like to scare us with such lies.
We had the same... issue in Italy, and of much worse dimension. 1 euro = 1937 liras, in a few years we practically had 1 euro = 1000 liras. But *the problem is not Euro, is the Government that did not vigilate*.
Polish people do not want Euro because they saw in Greece what happens when German banks are saying how great euro is. 47% is a lie - i do not think it is bigger than 25%. Also EU showed us how great they are with helping Ukraine when they were attacked (sanctions for public and private business still continue) - it would be no attack if Germans were weaker russians supporters.
As a czech, I will tell you my opinion on the euro. We HATE the Euro. 50% is overinflated, I'd say that about 80% of the people don't want it. There's mayn reasons why. First of all is that 1 EUR is 25CZK. It's very easy to calculate with it. Does a PC cost 20000CZK? that's 800€, It's a good deal. Next, when buying chips for example, paying 60CZK seems OUTRAGEOUS while 2.2€ Is good. The Euro, being a much more valuable currency, is terrible for us since we will overspend like hell and never even realize it. And lastly, the patriotism. Us czechs love our Koruna. It's one of the last few things making us different from the rest of Europe. If you asked me what the difference is between Belgium and France is, there's nothing I can think of but when you want a difference between Poland and Czechia, the few things that come to mind are currency, hockey and beer. Thanks for listening to my opinion.
Another great video! I learned a lot. In my opinion Sweden and Czechia are the only good fits for joining the Euro, but Bulgaria will likely be the first to join, even though the low desirability among the public means that they do not deserve the euro in my opinion.
The low desirability in Bulgaria is based on targeted misinformation. Pro-Russian parties are trying to create a Brexit here, which also relied on half-truths and false info. Ask a regular Bulgarian about anything said in this video and they won't give you a coherent answer. Miss-trust in foreign authority was cultivated by Ottoman and Soviet occupation and influence here aswell
Too much Kremlin influence in Bulgaria, both in the public and political spheres, hence the polarisation when it comes to the Euro and other issues. People here believe in conspiracy theories way too much and the Kremlin is just loving it.
@@Fruzhin5483 A new currency that is the same currency we've had for 25 years now, just divided by 1,95. It's honestly baffling how many people are opposed to the change despite the lev and the euro being essentially the same thing. Either adopt the euro or fully decouple for it, the current situation is the worst of both worlds. I do hope that the next government (whichever it is) speeds up the process because it's honestly ridiculous how long this process has taken.
@@iliamanolov5926 Ah yes, the argument of Jordan Tsonev and as everything coming out of the mouths of members of DPS it's complete and utter horse shit. The fact is quite opposite - the lev is tied enough to give it stability in the current market, as well as independent enough to serve the needs of the state. The fact that the state is incompetent is another matter entirely. The only ones that would feel a positive change are the businesses and corporations that are in their nature either European/foreigner, not Bulgarian ones. But you can say this is just my opinion or some other bollocks. Ok. Yet from the countries that recently adopted the Euro like Croatia and Slovakia, the economic imperative has proven... Almost irrelevant. The only serious change for your citizen was the doubling of all prices and reorganization and prioritization of resources based now on foreign capital. Even in the Baltic's case, the economic change was furthered by impressive government reforms, not by randomly adopting a new currency. They succeeded because they are tightly tied to the European market in a rather healthy way. Bulgaria isn't.
I was a bit sceptical in 2000 when The Netherlands traded in its very hard currency (Guilder) for the Euro. But I am glad we did it. It is safer (if everybody listens to the EU Commission, France, are you listening, have you learned from Greece?) and so much easier.
This will be the nail in the coffin for Bulgarians, inflation is over 50% by all unofficial sources and as someone currently leaving there, it could be even worse as all prices have increased massively. Not only that considering that the Euro will further push the inflation and that Bulgarians are the lowest paid employees in Europe, this will push even more people to leave the country.
You are very wrong about Sweden! It isnt close politically. It is one party who have made a fuss about joining. There are blocking parties in both political blocks. Not to mention we have have had referendum about it where it was a clear no. Joining without a new one is today politically very undoable. The public opinion is largely due to poor results from crisis management from our central bank and small currencies is bad in time of crisis. This will probably change next economic boom where having our own currency would be beneficial.
Idk, as neighbor from Finland. I barely noticed the change when it happened. Even if there are complaints, people will forget it in month or two anyways. My problem is that every time I come to Sweden on cruise I have to somehow figure out how much things actually cost ;D
The Eurobarometer survey, claiming 55% support for adapting the Euro in Sweden, needs to be taken with a grain of salt. An independent survey made at the behest of a public broadcaster published in May 2024, showed that 54% are against whereas only 27% supports the idea. When taking other aspects into consideration, such as opinions from politicians and independent economists (not salaried by right wing think tanks), the picture become even more complex. Since the Euro soon will be facing a number of challenges, especially those related to Germany's catastrophic misjudgements on energy issues and the impending failure of their current industrial model, it might be wise to wait and see. The uncertain geopolitical situation also calls for caution. Staying out of the Euro has so far served Sweden reasonably well.
Not sure, if I'd put any value to that referendum. Just look at Brexit. What arguments caused it? Well, today we know, they were mostly lies, so ask yourself two questions. 1) were arguments in your referendum valid and thruthful at the time? and 2) how long has it been since? Is it likely for the result to repeat itself?
@@looseycanon comparing the Swedish referendum about joining the Euro to Brexit is an unwarranted and frankly rude anglocism. They don't remotely compare. For starters, Swedes view the political process less like a game and more of a civic pursuit. Our MEPs don't shout at each other unlike the British Chamber of Commons. Even our furthest right party leader is more of an academic compared to the relatively uncouth clownery of Farage or even Trump. And I say that as a Swedish Right-Winger. Second, after the referendum which was somewhere in the late 90s, there has not been much talk about the Euro at all, and many Swedes do express surprise when we hear that we are obligated to adopt it. There's no talk about whether this or that argument was wrong. Heck, most Swedes could not tell you what the arguments against the Euro even was at the time. Lastly, there's virtually no party in our parliament that advocates for it, and that's all across the political spectrum: Left and Right. Comparing Brexit and the Swedish Euro Referendum is nothing short but comparing apples and oranges.
Not even current Eurozone countries meet the criteria. Greece alone almost pulled the whole of Europe in a recession. These rules seem totally arbitrary and a way for Western European countries to control the Eastern European countries. I am still wondering how Croatia got accepted. You can't tell me there wasn't a political interest to integrate them faster, while Romania and Bulgaria are being discriminated against.
Greece had a strong economy in the 90s when we were accepted to join. It wasn’t a coincidence we were able to host the Olympic Games. Which is a drain of national budget for any country.
swed here, the EURO will never happen in sweden, it says 55% procent just because some parties are open for debate and doesn´t want to take side because of the votes they would lose. Just a guess but if the swedish people would vote i think it would be more of a 80% against and 20% for
@@xeropadThe referendum of 2003 still stands. We need to respect the will of the people, 20 years is far too short time to throw a referendum under the bus - let alone hold another one. And I don’t think a new referendum should be held at a time where the SEK is temporary very weak against the EUR. Because that is very narrow minded and short term thinking. Just like having a Euro referendum in the middle of the 2012-2014 Eurozone crisis is just as dishonest.
@@captainchaoscow maybe the rich in stockholm wants the euro, but majority of people in sweden wants to keep our currency couse we like controlling the interst rates alot and im not sure we think the eu people are better at it then we are.
After the messed up management of the Euro in the 2008 crisis, which destroyed a proper credibility on the currency (thank you germans), Romania and Czechia will most likely avoid Euro zone (hopefully)
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Eurozone demanding a 60% limit on public debt when the Eurozone average is 90% is funny.
@marmite_popsicle Maybe make requirements that your own members comply with then? Imagine if Gulf countries formed an organization requiring its members to be democratic.
That's exactly the reason why. If your workplace only has unmotivated and untalented employees, do you want to recruit the same or aim to attract promising talent?
@@EddieNewmanLED If one employee is "unmotivated and untalented", then it's that employee's fault. If all employees are "unmotivated and untalented", then it's the employer's fault.
Anyway, why are you comparing people with countries?
Ezért tartjuk 67 %-on évek óta Magyarországon😊. Így sajnos nem vesznek fel😂😂😂
Hungary is the least likely currently as long as Orban is in power.
Lucky Hungary
@@giovannizanutta991 Lucky my ass, Orbán and the fidesz has made us the poorest country in the EU.
lucky Hungary
you still have a lot of sovereignty that can't be bought for money, a Government who actually work for their people, a country not destroyed by migration, Hungary will not end up the poorest one for long, those who chose the follow orders from EU/USA will, look at many of the other countries, their issues, violence in the streets, debt growing fast, where do you think they will end?
@@veronicajensen7690 lol, orbán imports half a million chinese, vietnamese and islamist migrants, and he has already made Hungary into the poorest country in the EU
Crazy to see Czechia can't keep inflation in Czech
Its at 2% now. Way below european or eurozone average.
Its been at euroean average around 2,5% for several months already too
They cannot keep higher GDP growth because of tight reliance on german economy (I'm Pole and am not happy about that), that's more worrisome..
@@meshuga27 not really a reliance on german economy, but more like an absence of a long term plan for transformation of our industries into high added value ones. We have insane amounts of "written down" strategies, but we never stick to them long term and when one government starts executing the plan the next general elections usually make a huge political shift, which also abandons the previous strategic plan therefore halts any prospects of above average growth. Fighting populism is also not adding any optimistic prospects for years to come. The problem is the same as in almost any democracy - uneducated or uninformed people participate in elections and there is a lot of these voters, who try to vote for the "next savior" instead of political views.
@@jakubblaha4904 Whoosh.
It was really bad (arrival of gas price shock with previous government spending under Covid made it hot for two years), yet the numbers here are bit lagging
By spring Czech gov got inflation back in “czech” 😊
(under 2%)
Most countries who are using Euro now couldn't even adopt it today, because of the bad financial situation.
Because of Euro that drag them into the problems 😂😂😂😂🎉
@@vave2607massive amounts of coping
Majority of Poles are against introduction Euro and we well know why.
Majority of romanians also dont want euro currency
agreed
why?
@@Mido_ Because we would not only lose some of our patriotism by losing our Own currency, we would be more easily influenced by the west, and the idea is from tusk(our hated prime minister) and Tusk is anti-polish and pro-euro meaning majority of the country hates him and his ideas, such as "zielony ład", aka limit your Citizens as much as possible Under the pretext of saving nature to increase your ongrowing influence (as a high rank) and Destroy the country and after that flee to your 5 Star villa in Spain.
@@Mido_well our economy is weaker and wed probably would end up similar to greece or something
The vote on EURO in Sweden was such a mess.
Four factions: Pro-Euro Left, Pro-Euro Right, Anti-Euro Right and Anti-Euro Left. No party was united.
Understandable. The issue was not simple.
it´s not an issue because no one wants the euro in sweden and should not be 55%, it´s just some parties are open for debate but if it would go to a voting I would guess it to be 80 against and 20 for
@@MoetHolgersson So 20% of Swedish people are nobody? Ok then, you must be so superior then.
@@RaduRadonys sweden will never join the euro
@@naapsuvaimne740 the same way it will never join NATO? Oh wait....
I think the next Euro state will be Montenegro, they already uses and when they join EU, they don't have currency so they have to use Euro
I'm really hopeful for Crna Gora's accession to the EU soon! But I don't think it'll be as soon as the start of 2026 - the date currently most likely for the adoption of the euro in BG.
Not at all. They are using it illegally and would actually have to drop the Euro in order to join the EU. Look it up.
@@milaenlommer9732That’s actually not true nowhere does it say that they need to drop it to join the EU
@@milaenlommer9732 Actually that's not true.
Any country can use another countries currency, however those countries are not allowed to print the currency.
No Euros are printed in Montenegro, as those Euros wouldn't be valid anyways.
This is why many nations in South America have adopted the US Dollar, they cannot print any dollars, but they can use it as their official currency and with this bet on the Dollar having a lower inflation than their own currency.
@@teaser6089 If a country cannot print money, from where do they get the foreign money? For instance, from where does Montenegro take the euros to function as a country?
I am Polish and I was fully on adopting the Euro for more than a decade earlier on when Poland joined the European Union in 2004. However joining the Eurozone means inability to set our own interest rates according to the performance of the economy. This is actually more important than a few advantages that the Euro brings. Besides, we can still borrow money in Euro at low interest rates and at the same time we can save money in Polish Zloty at a higher interest rate.
Having a strong and stable currency is invaluable, with all due respect, I don't think you thought this through.
Złoty is super stable currency.
Just check fluctuations over last 30 years.
@@CHALETARCADE Having our own currency most importantly brings us more freedom. Adopting the euro would make Poland more dependant on the eu economy rather than on our own and how it shapes.
The Euro isn't stable. It's subject to the will of Washington. If Washington blows up our energy infrastructure and then sells us gas for 3x the price... We can't do anything. Where as Poland could buy it's own energy and its currency is independent of the suicidal Washington Enslavement. Anyway, with tusk in power it's hopeless for Poland anyway @@CHALETARCADE
@@Badger99873 This is natural if you want to be a member of the EU. I would really like if the EU would said you either adopt the euro or leave the block. Fully integrated, but smaller market is better than this tbh.
2:13 A note, Bulgaria managed to stabilize the inflation under 3% since March(meaning almost 6 months of 2.3 to 2.5), which means that in a couple of months, the country will ask for a revaluation report. Bulgaria has a high chance of getting in the middle of 2025.
Слава на България!
I still doubt it will come so soon.. most of the Bulgarian money is under corruption and illegal stuff... they will postpone the euro until they launder it all completely.. and then the euro will come 😅
Love from Bulgaria! 🇧🇬❤️💶🇪🇺🔜
The majority of Swedes do not want to switch to the euro. Only about 34% are for the euro and 66% against. So it is not true that 55% want to switch to the euro.
That's probably just "your truth" because most people live in their own bubble these days.
@@Nils.Minimalist
No, according to official statistics from May 2024.
@@Nils.Minimalist Käften jävla trädkramare.
@@lahan3628 Good. You shouldn't, the Euro is a disaster.
Kronan skall vara kvar! 💛💙
I grew up in southern Poland not far from Slovakia border. When I was a kid we use to go shopping to Slovakia because it was cheap and nice there, much better prices than on Polish side of the old border… but after Slovakia adopted euro, everything change. We stop going there because it was simply too expensive, but Slovaks start coming to Poland because it was cheaper on our side of the old border. I know that Germans living not far from polish border like to make shopping in Poland, because it is simply better deal… I don’t know much about international monetary law and stuff… but I know that Slovaks I meet wasn’t very happy about euro.
As amateur coin collector I will be happy to see “polish euros” but as citizen I’m bit worry about it.
That is not related to the Euro, it is related to the level of development of the economy. Swiss people cross the border to buy in France, Italy, and Germany for instance.
@@ignacioc.furfaro5638 So what happened that suddenly after the introduction of the EURO this changed?
I was in Poland few months ago, and the prices are almost exactly the same as in Slovenia who has Euro for years now. EURO isnt the only thing affeting the prices...nor is inflation.
@@gregjuicey yes, our central bank is not disconnected from the gov and last years populist party mismanaged polish economy. I address time after Slovakia transition to euro. But you right, prices in Poland rose to similar level as in rest of Europe… earnings didn’t 😂
Adopting euro by itself does not guarantee neither economy improving nor degrading. Internal politics play the major role and if the government fails after adopting the euro then blaming the euro is just a red herring
Thanks, been waiting on an update for Bulgaria since your last video few months ago.
We will probably fulfill the inflation/stable price criteria by the end of this year and thus will be fully elligible. The only problem at this point is the government. We don't have any. After every election the parliament gets more and more into the political deadlock with nobody wanting to compromise to make coalition with the others. That is understandableas the population is divided and whoever makes a compromise and makes coalition with another party will lose their own voters.
in 2006-2008 there were riots because the forint-euro conversion rate was 260 forints - 1€
in 2022 the conversion rate reached a record low of 420 forints - 1€ and nothing happened
now, it's around 380/390 forints -1€ and euro is a second (nonofficial) currency here, used more and more often in many areas of life because it's waaaay more stable and it's not linked to a government which has lost its common sense at least 10 years ago
Interesting.
Even large projects are measured in billions of euros to even keep track of the amount of corruption happening simultaneously.
Compared to a government that lost it's sanity about 20 years ago?
from which country are forints
@@iampointless what do you mean..?
forint is a hungarian currency... thats why its called hungarian forints
I agree that Bulgaria is a given for the next member. Probably mid 2025, maybe 1 Jan 2026 if they struggle a bit with their inflation. After that it really comes down to politics over which governments want it most. I mean yeah, Romania is the only other country actively pushing for it, but they still have a looong way to go. So I think a Sweden or Czechia could easily follow after them if the Governments move to pursue that. Still, Sweden would need a public referendum on it so they may still be a few years away. Got to make sure that the referendum is a guarantee since a failed referendum could set them back years or decades. For that reason I would actually put Czechia ahead of Sweden. Poland in 4th then. Both Romania and Hungary have a long ways to go, but if and when Orban gets toppled, Hungary may start progressing rapidly.
I also wouldn't count out Denmark. Yes they have an Opt-Out, but they can always choose to remove it. This definitely wouldn't happen anytime soon, years away at least, but it could and I think will happen. Polls do seem to show an uptick in support of Euro-adoption, though still far under 50%. But I do have to wonder what would happen to Public Opinion in Denmark once Sweden joins. That could easily lead to a major shift in Denmark over a few years since Sweden and Denmark are so intertwined.
the public opinion in Sweden don't change policies in Denmark, for years and years they thought we were racists due to our migration laws, now they wish they had done the same, there are many laws and opinions different between Denmark and Sweden although we have many things in common, 26% of Danes would like to join the euro, we have had several referendums about the euro there is now only 2 political parties who want the euro one party get around 8% of the votes, the other around 2%, joining the euro is the stupidest thing a country can do because then the EU had full control and can shut down the economy as they did for 2 years in Greece and Cyprus , people couldn't get their own money out of the banks, they could only withdraw 50 euro pr day, the amount the slowly got higher over time, any country could be in a situation where their debt is to high according to EU, or the country don't play by EU "values" we have all seen how they punish Hungary and Poland because they won't accept migrants, with euro it's easier because it's the entire economy they can shut down, it also makes it very difficult to leave EU, I can say Denmark is not so pro EU as people think, the population have been convinced we have to be members because "look at UK" propaganda that completely ignores EU's own economy downfall on the world stage and the other 160 countries outside Eu not having the UK issue, incl. Switzerland, Norway, Iceland, Faroe Islands, Monaco ect. having no issue outside EU, however you never see an EU flag in Denmark unless it's an Embassy, you do however see the Danish flag everywhere, Danes are very nationalistic so I would not count on us ever getting the euro, before that day come there is no such thing as EU
@@veronicajensen7690 Congrats, you're very smart people. Both on migration and the Euro you've taken some very good decisions. You didn't fall for propaganda gullible people easily fall for.
@@veronicajensen7690Denmark has not had a monetary policy for how long? Thirty, forty, fifty years? This made sense while you used the DM but called it 3.81 crowns, but now I guess you just love leaving money to your banks every time you travel.
why the hell you think sweden will join the euro , it wont happen
@@veronicajensen7690 do you know that your currency is already pegged to the Euro? So you don't devalue against the Euro. You are stick with the EMU but you don't have a say in the ECB.
This is your stupid nationalism at his best. I've always found it very strange: a so advanced and civilized country, so stupidly nationalist.
The thing with Poland is that when everything goes well and we meet the criteria, people are like "we don't need Euro, everything is fine". And when there is a period of high inflation and people are like "well, maybe Euro would be a good idea" then we don't meet the criteria xd
I don't think we need it either way.
You guys also have zloty in constitution, so you would need much more than majority in Parliament voting to abandon zloty. No way that's happening.
@@dlugi4198the EU treaty takes precedence over the constitution. They don't need to change it, it's already obsolete
@@LoostycI don't think so. The German constitutional court has made some decisions against EU treaty. Every member is still sovereign.
But, I'm no lawyer, so happy to be corrected.
@@Loostyc I am well aware of Van Gend & Loos... However, some member states (and I think Poland is one of them) claim supremacy of member constitution over eu treaties. And the polish constitutional court with justices chosen by PiS will see it the same way
Great explanation thank you
You are welcome!
@@EUMadeSimple Next time do a video about the countries that regret adopting the Euro
БЪЛГАРИ ЮНАЦИ! Влизаме! Ние сме!
и кур за петров
@@Aethelthryth1337 БЪЛГАРИЯ НАД ЛЕВА!
Дано не! С толкова много държави с голям дълг спрямо БВП, по-добре отвън.
Нямаме работа вътре. Доказано е отново е отново, че бедните държави понасят много негативи.
Влизаме!
Господ е с България!
👍Really informative video, as ever. The effort that you put into your videos is much appreciated.
in my opinion there is a paradox that could hold back, at least in the short term, these nations from adopting the Euro:
1) If inflation is too high, they cannot join the Euro.
2) If inflation is low, these nations may have the perception that it is not necessary to join the euro.
(I'm talking about perception since in reality stable money does not always indicate a stable economy, a nation can buy its own currency to keep its value high, as happens in Russia)
YOu're right, I see it in Czechia - when our currency seems strong, there are voices not to join euro, because why would we do that. When our economy goes sideways and inflation goes up the euro average, there isn't possibility to join euro, because we don't meet criteria. It's Catch 22 of public/political opinions. We should've join euro, but we are too lazy to do that / government is too scared to do that. I think in near future (10-20 years) is joining euro out of table.
Romania is the only country that meets both public and political support, and it has been that way since we joined the EU, even back when our currency was stronger than it is today, so you can probably bet that if we meet all the criteria dictated by the EU we're going to join, it's probably not going to be as soon as 2026 though and certain european counties have sabotaged our tries to better our economy (i'm referring to Austria denying us entry in the Schengen space which would have made commerce a little easier)
It will be 7 parliamentary elections this year.
..3 out of those 7 will be in Bulgaria 😜
@@attilakovacs2231Doubt
Yes and puppet probrussel band of collaborators will be elected OUT. At least in my country
2:53 Inflation in Poland (m/m) in may is 2.5%
You need to be under 1,5% for year to it check-in criteria, btw in Czechia it was 2%
m/m or y/y
@@theli3xare you dumb? Watch the video again
Great video as usual! Hope to see Bulgaria join soon and more soonafter that.
Thanks Villa
Hopefully for Bulgaria they will not join.
Only benefactors for euro are biggest economies: Germany and France
The prices of consumer goods will certainly be higher, as in Slovakia or Lithuania.
You will see prices go double and salary go 10%
@@slavomt5832, which is only natural if your goal is to reach and surpass the EU's average since money makes more money. I started to work in 2021 after graduating from the university with a business bachelor's degree. Back then, my first salary was 700 euros after taxes in Vilnius, where I'd have to pay 300 euros for a two-bedroom apartment far from the centre. At first, I thought it was not enough. I mean, how can I survive? In 2024, my salary after taxes increased to 1600 euros and the rent to 500 euros per month, for a two-bedroom apartment, which is even further from the city centre. Now, I'm not saying the prices of services are stable (the rent increased by 67 percent.), but my salary after taxes more than doubled, surpassing the high increase in prices. No wonder Lithuanian youngsters are some of the happiest in the world. I can second it to my personal experience and convergence over the past 3 years.
🇧🇬🙌🏻🇪🇺
If we're being honest, the actual support for adopting the Euro in Bulgaria is greater, but the parties funded by Russia are doing everything possible to distance us from the developed Western countries. Russia is the one harming all Eastern European countries.
Братле няма никаква причина,да си загубим лева за еврото,не няма да си подобрим икономиката,няма да имаме по-големи заплати и не няма как еврото да е по-добро от лева понеже те са едно и също нещо.Няма причина ние да приемаме еврото,та ние вече го имаме,просто имаме финансова независимост,което е много важно именно заради това Великобритания,Полша,Швеция и Чехия,не искат да го приемат.
@@bulgarianempire5628 По-голямо противоречие не бях чел скоро!Хем еврото и лева са "едно и също нещо" , хем лева е по-добър(незнайно защо).Хем не сме го приели, хем "ние вече го имаме"...Обяснявам, за да не стане като във форумите дето някой пита, а всички му се карат.
НЕ, не сме независими с лева както на някой, получаващ по 4000 лева месечно с превод от Сбербанк му е наредено да говори.НЕ, не сме независими с лева, както на някои им се иска.НЕ сме независими въпреки лъжите, които ви говорят проруските партии.
В момента лева е една хартия обезпечена с евра, а решенията за еврата ги взимат други, защото ние нямаме право на глас.Това е така още от както въведохме валутния борд и ще продължи да бъде така, докато изпълним ЗАДЪЛЖЕНИЕТО си, да се присъединим към еврозоната.
Бедни държави в еврозоната няма - това е най-големия и необорим довод срещу всички лъжи.
България има нужда от чуждестранни инвестиции.На никой не му се занимава да превалутира в неизвестна валута, да плаща такси и т.н.Това най-очеизвадната полза, а те са много.Виж Хърватска - инфлацията веднага спадна.Отбелязват ръст в туризма втора поредна година.Цените не са се вдигнали както лъжеха и там.
I was going to write the same thing. 100% true
@@bulgarianempire5628някои неща са така, но с други не мога да се съглася. Говорейки за себе си - еврото ще помогне много за бизнеса, защото практически няма банка, която да не те цеди яко, когато искаш да купиш лев лева. Става едно постоянно купуване и продаване на валута, което е просто подаряване на пари на банките.
Относно БНБ - докарали сме го до там, че лично аз (сигурен съм и други хора) вярвам повече на Европейските от колкото на Българските институции... Виж КТБ, ББР, вълци и т.н. Корупцията ни убива и честно не виждам сами как ще се оправим с нея. Имах надежди, но умряха вече.
И последно - абсолютен факт е, че про руски партии правят всичко, за да съботират приемане на еврото, включително и откровени лъжи. Защо е така, мога само да спекулирам. Моето мнение, е че не им пука грам за това каква ще е валутата, а просто го ползват като лост за разделение на народа, защото това разделение много помага в една хибридна война, която се води срещу България (и Европа като цяло)... както ползват и джендъри, и война, и Македония, и мигранти, и ковид, и маски, и вятърни централи, и шистов газ, и златодобив, и т.н.
Та според мен еврото ще донесе доста желана стабилност, без кой знае какво да се промени. Ще поживеем и ще видим.
@@bulgarianempire5628 Братле, моля те първо научи се да слагаш интервал след запетая, елементарно е. Второ, финансова независимост и в момента нямаме, БНБ не взема независими решения относно паричната политика за лева от 1997 година насам, иначе валутния борд би пропаднал. Приемането на еврото може да ни е само в позитив - ще доведе до по-високи чуждестранни инвестиции и ръст в туризма, както се случи в Хърватия след като тя прие еврото в началото на 2023 година. Плюс, Всички решения относно паричната политика на еврото се взимат с гласуване между делегации от централните банки на държавите-членки, което значи че след влизането на България интересите на източноевропейските държави ще имат по-голяма тежест в този процес.
So well explained. Thank you
You forgot to mention that Swedish parties agree that the country will only join the Euro if there is prior public approval in a referendum, it was held in 2006 and the majority voted against it. Same in Denmark.
As a Pole, I was once enthusiastic about the Euro, but after many years I see fewer and fewer advantages of joining the common currency, at least for now. The euro zone is characterized by economic stagnation, which means that monetary policy has different goals than in the much faster developing Polish economy. Having your own monetary policy in a relatively large economy like Poland also gives you greater flexibility. Our approach has proven that over the last few decades we have been able to get through various economic turmoil better than most countries. Additionally, after Germany used its strength against countries such as Greece when it was in crisis, the willingness to quickly adopt the euro in Poland evaporated. And finally in the times of online banking, tools such as Revolut and Google Pay, exchanging currency while traveling practically ceased to be important because anyway no one uses cash to pay anymore.
I wish at some point you would need to choose. Either you adopt the euro or leave the EU.
then you are free to leave the EU if you are not going to follow its rules. Easy
@@dontobillo But we follow all the rules. We simply do not meet the criteria set by the EU to join the common currency and I do not see any party on the horizon that would be ready to murder its own economy to achieve this goal. :) Especially in the time when we are under economic stress to modernize the army and protect the eastern European border. I also don't see any chance for EU to survive if any other big country would live it now so don't wish bad to all of us
@@dontobillo Have you any valuable arguments to read or just a stupid response at the level of a primary school child?
Isn't that economic growth helped by the EU money?
Аз съм българин и се надявам България да влезе в еврозоната,възможно най-скоро. Подкрепям еврото за бъдеща валута на България.
Yah, and what exactly do you expect it will do? Except devaluating levy, destroying all savings, and being 100% fiscally dependence on unelected bureaucrats?
Fantastic great video. Really great comparison.
Fun fact: most of Romania's banknotes are the same size as euro notes.
Oh, I didnt know that😂R u sure tho?
@@Штефан12 The 1 leu note is identically sized with the 5€ note, 5 lei with 10€, 10 lei with 20€, 50 lei with 50€; though not 100% identical for more recent issues, the 100 lei note has the same size as the 100€ note from the 1st series, and the 500 lei note is the same size as the 200€ note of the 1st series.
another fun fact: romanian bank notes are made out of polymer, like the canadian dollars and australian, which are much more resistant to liquids and tears
@@AdrianRO1918 And Romania is the first European country to introduce polymer notes for general circulation.
@@321_au wow, good to know
Thank you for analysing Bulgaria. Your videos are getting better and better. Bravo. I can assure you that the public is not generally in favour of the Euro as you very correctly stated. The thing is being treated as second class EU citizens regarding Schengen similar to our Romanian neighbours, even though it is not related at all. Many Bulgarians feel the lev as a national pride as well, so the issue is very complicated. There was inflation when Croatia adoped the Euro as well, but got "accepted", so they can be both Schengen and Eurozone members.
It's also a lot of Russian propaganda.
That is a very well made in-depth Video! Bravo!🥳
As Bulgarian I FULLY SUPPORT THE EURO ZONE !!!! WE NEEED IT!!!!
Any government in Poland which would press on joining the Euro would be removed fast. Everybody can see what happened in those neighbouring countries which accepted Euro.
What happened exactly?
@@zdunmaneverything get expensive if accept euro
@@nightowl1435 lol, we dont have euro in Poland and we have 50% inflation combined for last 4 years.... propaganda like this is for imbeciles
@@nightowl1435thats bs
@@prenti1205 I would say that's not the only factor. The general public is well aware of more economical means to withstand a regional/global crisis than being closely tied with one of most rich countries in the world like Germany and France. The video mentioned that..
We in Republic of Poland proudly Love PLN Złoty.
The saddest currency I've ever seen.
@@andreab2114why? You jealous you dont have your own currency.. you got cucked.😅
@@andreab2114 Every currency is suppose to:
1. Serve as a mean of exchange withing the country
2. Be freely and easily exchangeable to other currencies, especially to the major ones (USD, EUR, GBP, CHF, AUD, JPY...)
3. Adjust export/import prices by adopting variable exchange rate to other currencies, according to economical situation of the country/countries using it.
PLN fulfils these requirements with flying colours, therefore PLN is not sad, it is joyful enough. Poland going through the financial crisis without too much trouble is a good enough proof.
@@andreab2114 saddest comment i ever seen, go get some sad handjob so you become complete creature
Anyone in Poland who wants Euro can freely buy Euro. No problem with that. We don't need Euro as our main currency. We don't want to follow the path of Greece or even Italy.
Another intellectual from Poland. :D
@@unemployed_clown At least not a clown
100% ..!., the EU
@@unemployed_clown Another indoctrinated @unemployed_clown
In Denmark more and more smaller parties have started talking about adopting the Euro, the agreement from 1992 might soon be sat aside as we could also adopt it
no. that'll take a general vote in the population, and while little politicians might feel different, the population still feel pretty strongly about their currency.
Since Danich currency is pegged to Euro that's just formality... and a benefit. Once you join the club you can participate in decision making.
@@adaslesniak Denmark does so already, and it is not a benefit
@@fex144 Making decisions about value of currency you use is not a benefit? Or you mean that pegging Danish currency is not beneficial? So Danish governement makes stupid decisions and if they were not following EU they would magically start smart decisions? So it's either way: they know what they do and it makes sense or they are stupid and they would make stupid decisions when not following Euro.
@@adaslesniak Look up GDP for EU Countries. Denmark has consistently had the highest surplus percentage of anyone for the latest five years in a row, and has been at the top three for about 10 years more. It is not an advantage to Denmark to get the Euro. If anything, the Crown should be strengthened against the Euro instead of 7,45 -to-1 as it currently is, it should probably be 6 -to-1. And also; That singular currency is less prone to corrupt movement. No one can take kroner with them to Spain, or anywhere else and use them. It is not stupidity. It is a feature not a bug. Denmark is not ineffective. Denmark is in fact the least corrupt country in the world.
Poland and Hungary should hold referendums like the UK to clarify their situation.
No, Poland agreed to join the Eurozone in the accession treaty that was voted in a referendum. However, no date was set and Poland has the right to postpone this moment ad infinitum. However, if we are to join the Euro, part of this decision on the Polish side is to change the constitution, which can be done by referendum (or parliament, but there is certainly no constitutional majority for this, and it probably wouldn't pass in a referendum either).
And Czech as well ..!., the EU. We want OUT not IN
Can you make a video explaining pros and cons of joining the Euro?
I'm swedish🇸🇪, and i'm so unsure about where i stand in this question🫤
If Sweden joined when the Euro was introduced everyone in the country would have been at least 30% richer compared to today. The Swedish population is getting poorer and poorer for each day we opt out.
@@latse3777How is that? In what way does adopting euro affect GDP?
Det är mycket bättre att ha en egen valuta som vi själva kan kontrollera. Euron är inte bara en valuta utan också ett banksystem. Vi vill inte flytta den makten till andra länder som inte har Sveriges bästa i sitt intresse.
@@latse3777 How did you get to those numbers? Do they account for the loss of fiscal control which would lead to increasing inefficiency in our markets and reduce growth or are you just comparing the exchange-rates of the currencies like a simpleton? The loss of control combined with the french debt crisis, which will happen because the left will not reduce spending after promising to increase it, makes the euro less of a pro and more of a con.
Swedes are not getting poorer they are simply trapped in debt caused by the 0% interest-rate of more than 10 years leading to people being retarded because money is "Free".
@@HenrikoMagnificoSweden is a member of the EU, and it mostly trades with €zone members. Having the Krona is good for investments (even tho I'm not sure Sweden is such a good place to invest, I mean, it's a developed country, not an emerging one), but is catastrophic for imports and trade. I mean, a € earner is way richer than a Krona earner, because 1€ is not equal to 1 Krona. Having the euro would allow "fair trade" with the other European nations (which are the largest trading partners of Sweden) because you would have the same currency. Also, having a stronger currency would help in dealing with global superpowers like the USA or China, and the international status and spread of the Euro is not something to underestimate.
Some have stated that, by adopting the Euro, Sweden might be able to preserve its amazing welfare state, which has caused several discussions. The euro is more stable.
Moreover, being an EU member you must follow some ECB lines - and it has been noted how Sweden does follow most of those lines - tho without having a seat in the ECB council. That implies, your sovereignty is being threatened. It is not the Euro to threaten your sovereignty. On the contrary, it is to be in the EU without adopting the Euro. So, you must adopt the Euro, or you must leave the bloc. But Brexit has shown what happens to be alone in 2024...
Hope this clarified! Ofc I'm not Lagarde or Draghi themselves, I might be wrong 😅 but I'm pretty keen on politics
omg what a surprisingly interesting video! thank you
sarcasm?
Hi, thanks for the video. Are you planning to do a video that summarizes the current discussion on the euro in Sweden? I read something in the past months but a video about that will be awesome. Thank you.
Using criterion as the singular, you speak English better than natives, and your pronunciation is so good only one syllables made me look up your channel details to find out if it wasn't just an advent quirk. Your English is impeccable sir!!!
Public support for euro in Poland in this video is a lie, cos 85% Poles are against euro in Poland. So I don’t know where did they get this 47%
Thank you for the videos. They are always interesting and great.
As a Pole, I hope we never have euro 💶
Understandable. As a dutch person we see positive and negative things about it. Sometimes it feels like united partnership, And other times it feels like (unfairly) not having your own ropes in hand. Also the lefts have too much power in the EU, so me personally hope that the last elections will make some change in it. it is some ultra western shii sometimes
As a Pole, I second this.
no euro in Poland!
ekonomisci nawet nie moga sie zgodzic w tej kwestii a tutaj jakies anony w internecie mówia ze euro albo bardzo zle albo dobre, przy czym tych pierwszych chłopsko rozumowców jest znacznie wiecej w internecie xd
@@michamarkiewicz1642 euro złe
I hope Romania adopts the euro in the near future.
💙💛❤️🇷🇴🇲🇩🇪🇺
Why?
Why ? What if euro would collapse? We should keep our own currency...
For us Poles, maybe it would be good because Romania started to overtake us economically 😅
@@salad7776 it happens, good for me bad for u
Hungary least likely, definitely. No political support at all and not to be seen until Orban and his camp is out of power. Romania, Czechia has Eurosceptic opposition on the rise...Poland is fairly big and currently successful, they will hold on...Sweden has seen some Krona devaluation, if that continues that might make them become more favourable, but also very controversial.
Thanks for the video
Finland allegedly having under 2% inflation is ridiculous prices have easily increased over 5-15%
Yah propaganda outlets are never that accurate
*As an EU economist, I find this video to be simply yet beautifully done. Great job, EU Made Simple Team!
That poll presented in the video goes against all of the national polls here in Sweden, which show a 20 % gap between adoption and no adoption, with over 50 % of people being against.
this is a propaganda channel, so maybe thats why
Hopefully more join soon, great video!
Bulgaria has been one of the most fiscally disciplined EU members for a while and should be in the Eurozone if desires. Land Schengen borders are a must too. Then the economy will skyrocket. Now, another problem is the Russian influence in countries like Hungary, Slovakia and Bulgaria. Their political elites are often corrupt by the Russians and as a result there are either pro-Russian autocrats like in Slovakia and Hungary or inability to form a stable government like in Bulgaria. A good sign is that despite that the economy and the banking system are robust and functional. One of Europe’s main challenges for the future will be to curb corruption and foreign influence by Russia and China.
Bro we are more corrucpt by the American influence rather than the Russians. Our politicians are kissing the asses of Americans. To be honest we need to not go in the Euro and protect our currency.
One example is Dundee Precious Metals we sold a Gold Mine to the Americans that makes trillions fucking trillions man I calculated the amount they have stolen from our lands. Let's say we have 7 million bulgarians (a little bit less due to more immigrating) I have calculated that if each and every bulgarian get's Equel amount for each person from the extraction of gold that would be around 6-7 million lev by each person which is 3-3.5 million euro so West nowadays has more influence over us. And Bulgarian politics don't care who it is it matters if they are getting a share from the pie that's it
As a Pole, i'm happy to not meet the requirements for the euro currency :)
And I am happy that I left Poland decades ago.
Bro 100% no poland no one don't want euro in us country, me too. 47% it's overpriced maybe 30% but this is only because of the ideology of the favorable parties that want to unite in the EU. Poles do not want to be part of something, they want to be a separate country, we can cooperate but we do not want anyone to decide in our matters and the majority believe that the EU is already interfering too much in our country.
We don't want euro currency in Poland
And you shouldn't. I am Italian and adopting the Euro destroyed my country.
Prices went immediately double and wages remained the same. We went from doing well to almost starving.
euro prohibited in Poland
@@robertdemarcosadventures8382 the country was destroyed by politicians who were (and still are) utterly unfit to manage, not by a currency.
@@robertdemarcosadventures8382 We are a lot better, in Hungary we made it without euro too. :D
I hope that Poland will not adopt this crappy currency, because the situation of many countries has shown this, that own currency helps a lot in the development of the country and in critical situations.
It's not a crappy currency for sure. The only real competition the USA dollar ever had. It's just that your country is a crappy economy. 😂 Funny how Germany, France, Netherlands, Belgium, Luxembourg, Finland, Ireland, Slovenia, don't have ANY problems with euro. But crappy countries like Poland, Greece, Portugal, do! In the long term, EU members that don't use the euro will have to leave the EU. No more HUGE EU funds for Poland. Oooops.
In Slovakia is it the opposite situation - without euro we have no country development, but the mafia development instead. The current komunist/fasist government would steal all country money, but europe with euro is stopping them from it.
Czechia:
public support for Euro is only around 25%, i really don't know where you gain 50% :)
You didn't pay attention then, it was said. Kundo.
what is a public support for the whole EU. Lets do referendum about czechxit
I hope my country of Poland won't be so eager to join the euro zone. It would destroy our economy, the euro only serves the big players like Germany and France.
exactly
Well, Petr Pavel said he wants the Euro for the Czech republic although he knows it is not popular among the people. Prices will skyrocket in CZ and they will face the faith of croatia.
Clear and objectivs analysis. I had almost forgotten about this issue
I knew it, Bulgaria will adopt Euro first, my prediction 1st July 2025 🎉
Hope you are right, it would help them a lot.
Do not tell us what is good for us and what is not pls😃
@@ВирджиниоИванов It's not me telling this, but the majority of economists familiar with the situation of Bulgaria.
There is no way to convince a nation of nationalists like us to exchange the most sacred thing, the Bulgarian lev, which is 146 years old and is the oldest currency in the EU, with the euro. In addition, the ECB itself rejected Bulgaria for the Eurozone, thus disappointing the few people in the country who wanted us to accept the Euro. No economist can know better than us in Bulgaria what the economic situation is.
@@ВирджиниоИвановNobody cares how old is your currency.
I wonder how Slovakia met those requirements
@@shif06 Romanian actually doesn't meet any of those requirements.
How is Slovakia doing with Euro?? Overperforming Czechia???
@@ivani3237 Slovakia and Czechia are both export-oriented economies with Germany being the largest trading partner. It makes no difference if you use the Euro or have your national currency - if Germany goes down the drain, you will go with it. Regardless of what currency you use. There is a practical benefit to the Euro - no exchange of money when traveling to other countries that use the Euro. No conversion risk that businesses have to plan for. No swinging of real salaries if you work outside the country where you live (like I do - live in Bratislava, work in Vienna). And mostly - no scammers in the streets praying on tourists who need to change the Euro to your local currency. Also, no bank fees for exchanging money.
@@ivani3237 not even close sadly...
@@ivani3237Czech perspective:
initially after Euro adoption Slovakia showed spike in growth, which looked like they might catch up to us soon.
The spike growth somehow lost strength though. (there might pretty important internal political reasons behind it in Slovakia rather than just integration into EU economy. The Sk govs looked pretty troubled to me)
We ain't switching to Euro from Forint, we bringin' Pengő back from the dead
As a Pole - EU's absurd attachment to austerity is slowing it down. Current anti-deficit procedures are the reason why the US economy is skyrocketing and countries like Germany are left behind. We would loose our money creation ability in exchange for budget cuts, because any national debt would be indistinguishable from foreign currency debt. For me it has to be Euro AND an actual European Federation with actual monetary union. Otherwise it's pointless and no emotional arguments about "unity" matter, because I don't consider countries like Sweden or Denmark to be less of an allies because they use crowns.
The euro is a disaster for the economy. Southern countries have shown it. The level of unemployment in Italy, Spain, Portugal and Greece is quite high + large debt. Countries such as the Czech Republic, Poland, and Romania with their own currency show much better results in terms of the country's development and export growth. Plus, the Euro will not be able to save from inflation. A vivid example is Lithuania, Latvia and Estonia, where inflation during the coronavirus was higher than in Poland and the Czech Republic.
those things aren't (directly) consequences of being part of the €-zone.
the high debt (as % of GDP) of the Southern European nations is a bigger reason of why those nations do poorly (compared to North-Western Europe).
more debt means more interest being payed over that debt, more interest being payed means less money in the budget to spend on your citizens/country.
so if they lower their debt (and in the short term that is painful), in the future they will have more money left over to support their citizens.
also it doesn't help that a lot of the economy of those nations is tied to the tourist sector, that sector is to volatile to have a stable economy.
if weather, inflation or any other disruption occurs vacations and going out are one of the first things people will start to spend less money on.
as for why the Central European nations do better (in development) is simply because they had a lot of room to grow.
30 years ago they were Soviet puppets (in one way or another), and after the fall of The Wall and joining the EU they have had a lot of help to catch up to their Western neighbours.
and that shows in the leaps forward in quality of live, GDP growth, and average income.
as for the inflation levels of the Baltics. that is something i don't have enough knowledge of to weigh in on.
as with everything being part of the €-zone has it's benefits and downsides. and it is important to try to eliminate the cons and make the benefits better/bigger.
but for most members the € has been beneficial (it might take a bit for the benefits to materialize but with time every member reaps them)
and in Hungary we had 30% inflation since 2020, despite having our own currency
@@ChristiaanHWMonetary union( euro) is not good as long as there is no fiscal union.
The euro was a blessing for Italy and saved the country from financial default
The situation with Hungary is different. If you look at the graph of your currency and exports of Hungary, then in 2010 you had a turning point. Then Orban came to power. But since it is more important for Hungarian society to annex the territories of neighboring states and talk about "Trianon", and be friends with Russia and Turkey, than to vote for parties that choose the European vector of development.
Hungary is ready to join the Rubble.. :(
We in POLAND are happy 😃that we do not meet the Eurozone requirements. Thanks to this, we have had the highest uninterrupted economic growth for 30 years, and recently the lowest unemployment in Europe. The Euro means poverty for the working classes - high prices and low competitiveness. The beneficiaries of the Euro are mainly Germans. Keep this Euro to yourselves.
That is the point. Celnie w punkt!
Thank the Germans for your growth!
@@PeterSlazy Let Germany thank whole Europe for their growth. Without EU that would not happen.
@@PeterSlazyNiech Pan się zastanowi co powie zanim się odezwie i troszeczkę pod uczy
@@kufel99 We are talking about Poland which did not add anything but taking money.
When Bulgaria joins, euro banknots will start to include Cyrillic letters as this will be the first member using this alphabet.
They already do have Cyrillic/Bulgarian on the banknotes. They started being included when Bulgaria joined the EU.
They already do, since Bulgaria is in the EU. Check some newer Euro bills if you have them.
All euro banknotes since 2013 are also written in Cyrillic.
O - OH NO! THIS IS EUROPA! THE MAJORITY COUNTRYS, D O N'T USE CYRILIC LETTERS! BULGARIA EITHER ADJUST TO THE REST OF THE COUNTRYS, AND N O T USIN CYRILIC LETTERS, OR STAY OUT!
@@alfredbenedek3398 take your pills
I was in GERMANY at the change to euros. The rate of exchange was 2 DM for 1 EUR. Yes, but one day I paid 65 DM for the hotel room and THE NEXT DAY I PAID 65 EUR INSTEAD OF 32,5 EUR . Who is next willing to lose overnight half of the purchase power. This is THEFT.
Exactly what I was thinking will happen when we join the Eurozone. I'm from Bulgaria but with our purchasing power not beeing the best, I don't think the euro is a good idea now. Also our currency is pegged to the euro so if I go now to exchange my lev to euro or in a year it's still going to be the same. I just don't see the benefit.
When Finland joined EU, against our Constitution making our then politicians just traitors, my late father commented "now Hitler's plan is almost fulfilled in Europe, just the flag is different". The Brits made the right, patriotic decision, Brexit. Like my father wanted to see, and saw, the collapse of the Soviet Union, I would like to see Fixit, and finally the collapse of dysfuctional European Soviet Union, EU. Almost every well doing country has had net harm from joining EU. The plot of DDR, ordered by the Soviet Union, the "Green Movement" has now crippled our energy production, just like Soviet Union wanted. As is documented, DDR ordered West German communists to join forces with former Nazis to form a Green party, as both hated the West and wanted to harm the Western industry. It was 1970, and the Green Party was established 1976, in the opening ceremony a picture was taken "the picture all the Greens of the World would like to destroy"; the communists celebrated with those old Nazis. Now we have wind power. And huge electricity bills...
I am Dutch. I find the euro useful for payments in the euro countries. No more currency exchange. Many countries in the world also accept euros, so it is easy to spend on holidays.
But after the introduction of the euro, products have become more expensive in the Netherlands.
The euro was worth 2.20 Dutch guilders:
for example, a product costs 1 guilder = 0.45 euro cents. But in stores this was rounded up to -> 0.50 euro cents.
25 guilders = €11.34 -> €11.49
50 guilders = €22.68 -> 22.99
In the first 5 years I also had to get used to converting euros to guilders in my head. Because with the euro prices everything seemed cheaper by half.
Let me tell you a secret. Prices are rising even without the euro. Any country that does not use the euro will confirm it. In the last 3 years, cumulative inflation in Bulgaria has been over 30% even without using the euro. That's just how the economy works. The other is communism.
What about the salaries? Did they got cut in half?
Interesting post. Thank you. Difficult to judge how much inflation affected prices in the year of the changeover. Dutch exports to other Euro countries now has no currency exchange of course and imports from those countries should be cheaper but did inflation wipe out the gains? All in all though, trade is easier. And travel, as you point out.
@@Julian-zj2qy It is not difficult. There are statistics for these things. Inflation in the Baltic states (most recently joined, excluding Croatia) was 0.1-0.2%. That's practically nothing. In Bulgaria, the biggest opponents of the Eurozone like to scare us with such lies.
We had the same... issue in Italy, and of much worse dimension. 1 euro = 1937 liras, in a few years we practically had 1 euro = 1000 liras. But *the problem is not Euro, is the Government that did not vigilate*.
Hungary and Poland have the same chance of adopting Euros as Nigeria.
yes
"Chance" lol.
I'd rater leave EU than join Eurozone.
Let's keep it like that
Polish people do not want Euro because they saw in Greece what happens when German banks are saying how great euro is. 47% is a lie - i do not think it is bigger than 25%.
Also EU showed us how great they are with helping Ukraine when they were attacked (sanctions for public and private business still continue) - it would be no attack if Germans were weaker russians supporters.
As a czech, I will tell you my opinion on the euro. We HATE the Euro. 50% is overinflated, I'd say that about 80% of the people don't want it. There's mayn reasons why. First of all is that 1 EUR is 25CZK. It's very easy to calculate with it. Does a PC cost 20000CZK? that's 800€, It's a good deal. Next, when buying chips for example, paying 60CZK seems OUTRAGEOUS while 2.2€ Is good. The Euro, being a much more valuable currency, is terrible for us since we will overspend like hell and never even realize it. And lastly, the patriotism. Us czechs love our Koruna. It's one of the last few things making us different from the rest of Europe. If you asked me what the difference is between Belgium and France is, there's nothing I can think of but when you want a difference between Poland and Czechia, the few things that come to mind are currency, hockey and beer. Thanks for listening to my opinion.
Another great video! I learned a lot. In my opinion Sweden and Czechia are the only good fits for joining the Euro, but Bulgaria will likely be the first to join, even though the low desirability among the public means that they do not deserve the euro in my opinion.
The low desirability in Bulgaria is based on targeted misinformation. Pro-Russian parties are trying to create a Brexit here, which also relied on half-truths and false info. Ask a regular Bulgarian about anything said in this video and they won't give you a coherent answer. Miss-trust in foreign authority was cultivated by Ottoman and Soviet occupation and influence here aswell
Too much Kremlin influence in Bulgaria, both in the public and political spheres, hence the polarisation when it comes to the Euro and other issues.
People here believe in conspiracy theories way too much and the Kremlin is just loving it.
Not really.
We have enough economic problems as it is and adopting a new currency will just make things more complicated.
@@Fruzhin5483 In fact adopting the Euro will have quite positive effect.
@@krasimirdimov4778 No, it won't.
@@Fruzhin5483 A new currency that is the same currency we've had for 25 years now, just divided by 1,95. It's honestly baffling how many people are opposed to the change despite the lev and the euro being essentially the same thing. Either adopt the euro or fully decouple for it, the current situation is the worst of both worlds. I do hope that the next government (whichever it is) speeds up the process because it's honestly ridiculous how long this process has taken.
@@iliamanolov5926 Ah yes, the argument of Jordan Tsonev and as everything coming out of the mouths of members of DPS it's complete and utter horse shit.
The fact is quite opposite - the lev is tied enough to give it stability in the current market, as well as independent enough to serve the needs of the state. The fact that the state is incompetent is another matter entirely.
The only ones that would feel a positive change are the businesses and corporations that are in their nature either European/foreigner, not Bulgarian ones.
But you can say this is just my opinion or some other bollocks.
Ok. Yet from the countries that recently adopted the Euro like Croatia and Slovakia, the economic imperative has proven... Almost irrelevant. The only serious change for your citizen was the doubling of all prices and reorganization and prioritization of resources based now on foreign capital.
Even in the Baltic's case, the economic change was furthered by impressive government reforms, not by randomly adopting a new currency. They succeeded because they are tightly tied to the European market in a rather healthy way.
Bulgaria isn't.
If Sweden joins the euro, I'm out period. Sweden won't profit from it.
I hope we will never join Euro zone, most people in Poland don’t want…
I was a bit sceptical in 2000 when The Netherlands traded in its very hard currency (Guilder) for the Euro. But I am glad we did it. It is safer (if everybody listens to the EU Commission, France, are you listening, have you learned from Greece?) and so much easier.
I don’t want euro in Poland🙏🥺
We all don't
You don´t get it anyway. To unstable.
@@PeterSlazy we will😔
As a Polish person I hope we won't have to introduce euro for as long as possible
cringe nationalism.
@@unemployed_clown Who hurt you?
@@matts6694read his username bro.
@@unemployed_clown cringe @unemployed_clown. Get a propper job, writing lame propaganda is not a job
Did these convergence criteria exist in 2001? I'm guessing not, because Greece would never have snuck in there by the back door.
Greece’s economy was very strong in the 90s. We even hosted the Olympics for crying out loud, the most expensive tournament that exists.
As a pole, id say that support for euro is much much much less than 47%
This will be the nail in the coffin for Bulgarians, inflation is over 50% by all unofficial sources and as someone currently leaving there, it could be even worse as all prices have increased massively. Not only that considering that the Euro will further push the inflation and that Bulgarians are the lowest paid employees in Europe, this will push even more people to leave the country.
True
I live in bulgaria
А молдовците, украинците?
I hope for the people of these countries that they never (have to) adopt the euro. Traditionally, prices soar soon after countries join the eurozone.
EURo is a disaster for all countrys that accept eurozone .
You are very wrong about Sweden! It isnt close politically. It is one party who have made a fuss about joining. There are blocking parties in both political blocks. Not to mention we have have had referendum about it where it was a clear no. Joining without a new one is today politically very undoable. The public opinion is largely due to poor results from crisis management from our central bank and small currencies is bad in time of crisis. This will probably change next economic boom where having our own currency would be beneficial.
Idk, as neighbor from Finland. I barely noticed the change when it happened. Even if there are complaints, people will forget it in month or two anyways. My problem is that every time I come to Sweden on cruise I have to somehow figure out how much things actually cost ;D
The Eurobarometer survey, claiming 55% support for adapting the Euro in Sweden, needs to be taken with a grain of salt. An independent survey made at the behest of a public broadcaster published in May 2024, showed that 54% are against whereas only 27% supports the idea. When taking other aspects into consideration, such as opinions from politicians and independent economists (not salaried by right wing think tanks), the picture become even more complex. Since the Euro soon will be facing a number of challenges, especially those related to Germany's catastrophic misjudgements on energy issues and the impending failure of their current industrial model, it might be wise to wait and see. The uncertain geopolitical situation also calls for caution. Staying out of the Euro has so far served Sweden reasonably well.
Not sure, if I'd put any value to that referendum. Just look at Brexit. What arguments caused it? Well, today we know, they were mostly lies, so ask yourself two questions. 1) were arguments in your referendum valid and thruthful at the time? and 2) how long has it been since? Is it likely for the result to repeat itself?
@@looseycanon
1. Yes
2. It is definitely possible.
@@looseycanon comparing the Swedish referendum about joining the Euro to Brexit is an unwarranted and frankly rude anglocism. They don't remotely compare.
For starters, Swedes view the political process less like a game and more of a civic pursuit. Our MEPs don't shout at each other unlike the British Chamber of Commons. Even our furthest right party leader is more of an academic compared to the relatively uncouth clownery of Farage or even Trump. And I say that as a Swedish Right-Winger.
Second, after the referendum which was somewhere in the late 90s, there has not been much talk about the Euro at all, and many Swedes do express surprise when we hear that we are obligated to adopt it. There's no talk about whether this or that argument was wrong. Heck, most Swedes could not tell you what the arguments against the Euro even was at the time.
Lastly, there's virtually no party in our parliament that advocates for it, and that's all across the political spectrum: Left and Right.
Comparing Brexit and the Swedish Euro Referendum is nothing short but comparing apples and oranges.
Thanks bro
We do not want EURO in Poland
Not even current Eurozone countries meet the criteria. Greece alone almost pulled the whole of Europe in a recession. These rules seem totally arbitrary and a way for Western European countries to control the Eastern European countries.
I am still wondering how Croatia got accepted. You can't tell me there wasn't a political interest to integrate them faster, while Romania and Bulgaria are being discriminated against.
Greece had a strong economy in the 90s when we were accepted to join. It wasn’t a coincidence we were able to host the Olympic Games. Which is a drain of national budget for any country.
I sincerely hope we can stall it indefinitely, cheers from Sweden
Romania is not changing currency to euro anytime soon
At least you have beaten Hungary in “we are richer than you now” game 😂 jk ❤ from 🇧🇬
At least you have beaten Hungary in “we are richer than you now” game 😂 jk ❤ from 🇧🇬
Czech Republic has 30% public support. We dont want no EURon nonsense.
I'm a romania and, our president has done nothing for this country (Iohanis), I hope that we get a good president this time, at the elections.
Simon... Ciolacu... Ciucă... Vai de noi
aged like milk
swed here, the EURO will never happen in sweden, it says 55% procent just because some parties are open for debate and doesn´t want to take side because of the votes they would lose. Just a guess but if the swedish people would vote i think it would be more of a 80% against and 20% for
No need for us to vote since sweden has to join the euro at some point and it's a long time since the former vote.
@@xeropadThe referendum of 2003 still stands. We need to respect the will of the people, 20 years is far too short time to throw a referendum under the bus - let alone hold another one.
And I don’t think a new referendum should be held at a time where the SEK is temporary very weak against the EUR. Because that is very narrow minded and short term thinking. Just like having a Euro referendum in the middle of the 2012-2014 Eurozone crisis is just as dishonest.
I doubt your statistics.
@@captainchaoscow maybe the rich in stockholm wants the euro, but majority of people in sweden wants to keep our currency couse we like controlling the interst rates alot and im not sure we think the eu people are better at it then we are.
@@DennanI'm Polish, if Germans pressure any of our countries to join eurozone, we should have each other's back. It's a scam.
in romania ppl dont want to join and also the gouv dont want ... they let the infalation way bigger than its resquied to join on perpose
well done video
After the messed up management of the Euro in the 2008 crisis, which destroyed a proper credibility on the currency (thank you germans), Romania and Czechia will most likely avoid Euro zone (hopefully)
IM glad Poland doesn't meet the requirements, we DON'T want the euro
NONE DOES. I want my country OUT of the whole EU
Euro adoption assumes the central bank doesn't buy government bonds? Are we sure it doesn't say "must buy government bonds"?