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The EURO - Who Joins Next?
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- Опубликовано: 11 июл 2024
- Seven European Union countries do not use the Euro and still rely on their own local currencies. However, most of them are obligated to join the Eurozone eventually, with one country likely to join next year. This video will examine the progress of each country.
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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%)
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....
Most countries who are using Euro now couldn't even adopt it today, because of the bad financial situation.
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?
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
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.
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
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! 💛💙
🇧🇬🙌🏻🇪🇺
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.
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
Thanks, been waiting on an update for Bulgaria since your last video few months ago.
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!
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.
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.
It will be 7 parliamentary elections this year.
..3 out of those 7 will be in Bulgaria 😜
@@attilakovacs2231Doubt
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?
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 😂
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.
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.
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.
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..
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!
Great explanation thank you
You are welcome!
Definitely not Poland. Most of us are against it for obvious reasons.
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
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.
👍Really informative video, as ever. The effort that you put into your videos is much appreciated.
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!
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.
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.
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
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.
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!
Finland allegedly having under 2% inflation is ridiculous prices have easily increased over 5-15%
Fun fact: most of Romania's banknotes are the same size as euro notes.
Oh, I didnt know that😂R u sure tho?
@@zew597 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
@@nxibba And Romania is the first European country to introduce polymer notes for general circulation.
@@321_au wow, good to know
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
We in Republic of Poland proudly Love PLN Złoty.
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)
Poland doesn't join Euro, ever. No need to include it as potential country.
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.
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.
Hungary??? I think the EU will kick them out the EU. and NATO will kick them out of the NATO as well
But shouldn't natives of the country decide whether they join or leave EU/NATO?
Back in reality, the European Commission has stated that Sweden's 2003 referendum result, which rejected euro(€) membership, constitutes an effective opt-out.
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😃
@@user-vi3qu8vg3e 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.
@@user-vi3qu8vg3eNobody cares how old is your currency.
As a pro EU Bulgarian, I'm sceptical we'll join next year. Yes, we do meet most of the requirements, but our political situation has been unstable for the past 3 years now. We've had 6 elections in that time and i'm pretty sure our EU partners would prefer if the newest eurozone member was a bit more stable. There's a similar situation happening right now with our acceptance in the schengen area.
I feel that our EU partners are unsure of who will represent Bulgaria next and if our policies won't turn on a dime after an election or two and given how frequently we've had those, i can't really blame them.
Много точен коментар!Честно казано се надявам точно несигурността да ни тласне повече към еврозоната и Шенген, защото ако се замислиш, ние влязохме като на шега и в ЕС.Мисля, че тогава ни приеха именно защото ако бяха отказали, щяха да ни тласнат към руските лапи.Дано и сега стане така, защото без редовно правителство ще е чудо ако покрием критериите за инфлацията!
@@nikitrz Благодаря. За съжаление не мисля че ще стане. Когато влизахме в ЕС поне имаше стабилно правителство, което да води преговорите. В момента хората които ги водят се сменят на всеки няколко месеца. Не мисля че изглеждаме като сигурен партньор на когото можеш да разчиташ.
Надявам се да сте прави и да ни приемат, просто малко ми се вярва да стане.
- National Central Banks must be fully independent
- National Central banks must be FULLY ALIGN with EU Central Bank
Choose one
omg what a surprisingly interesting video! thank you
As a Czech, I'm more and more astonished by the low support of Euro adoption in my country. Especially after the inflation spike after war in Ukraine broke out---at one point, we were almost at twice the inflation in Eurozone. People were losing money---and they still didn't realise that it doesn't matter what picture is printed on it, as long as it keeps its value (or at least doesn't lose it very quickly). People think it's a matter of patriotism. It's not, it's just silly. The point of currency is to represent value, not to wave the flag. We mostly pay electronically anyway---at that point, money become just numbers. National currency only makes one kind of people better off: the speculators.
It is way more complicated. I personally as a Czech change my opinion on accepting the euro regularly. You can't deny the advantage of exactly doing what you said, the temporarily high inflation let the companies save cost on wages while they had issues thanks to covid and the war. Now the wages are slowly catching up, but thanks to high inflation they could survive, but it is a double-edged sword and if the inflation really goes out of hand then it would be better to have Euro. The main advantage of the Euro right now is that the companies wouldn't need to keep reserves both in Czech crowns and euro, but just in euro. I think we are approaching optimal time to get into euro about in 2-5 years, but it has its disadvantages. Right now we are hitting the limit of the "make the same stuff as Germans but cheaper" for which the crown was perfect, but if we accept the euro and will stay in the middle-income trap, it will be a disastrous decision to accept the euro in a long run, on the other hand, if we get through this phase, it will be positive one. The problem is nobody knows what will happen in a couple of years, so it is wise to wait and see the recovery from these crises before committing to the euro.
A country's inflation rate is not really related to whether it has the euro or its own currency, but how its economy is set up. Estonia is part of the Eurozone and at the time of the covid their inflation rose to 21% and ours "only" to 17% and only thanks to the intervention of the CNB otherwise we would have had inflation of 25%. Ukraine may have slowed the decline in inflation, but it has not significantly affected it. Now Czechia has inflation at 2.2% according to eurostat data (eurozone average is 2.6%) while Estonia has 2.5%. In any case, the euro will not solve this particular problem.
@@vermull19 Yes, I understand that, but wouldn’t you agree that “small” currencies have high volatility and at times of crises, they make life for both businesses and people difficult as they fluctuate a lot? IMO, both (small and middle sized) businesses and people have a lot to gain from _stability_ of currencies like Euro.
@@vermull19 Well, accordingly to Statista, Peek inflation in Slovakia was a bit above 12%, full 3 per cent points less than ours… Would you say that Slovak economy does notably better than ours?
@@vaclavkrpec2879 In some ways, yes. Our economy is more efficient than Slovakia's, but it is also more prone to crises than Slovakia's. The same applies to Estonia, whose economy is more efficient than ours, let alone Slovakia's, but, like ours, is more crisis-prone than Slovakia's.
Certainly a stable currency has its advantages, but it also has some disadvantages.
Anyway, if we stabilize the Czech economy while maintaining or even improving its performance (we could partially get rid of our dependence on Germany, so that we wouldn't affected by their decline), if we meet the conditions and prepare the system (from businesses to the state administration to citizens) for the transition, there is basically no problem. If we don't do this, we will just be throwing pearls to pigs. But maybe all we really need to do is change the currency and everything will sort itself out without losing a flower and we will even make a profit.
I don’t want euro in Poland🙏🥺
We all don't
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!!!
We ain't switching to Euro from Forint, we bringin' Pengő back from the dead
Euro adoption assumes the central bank doesn't buy government bonds? Are we sure it doesn't say "must buy government bonds"?
Hungary and Poland have the same chance of adopting Euros as Nigeria.
yes
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.
That is a very well made in-depth Video! Bravo!🥳
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.
I hope by Bulgaria joining the Euro they would set an example for our Romanian gov to get their shit together and put us back on track to join as well...
You are now better than Hungary and we had hoped this will give example of our corrupted government but it didn’t happen unfortunately 😢 the shame is not something the politicians have
Just see Greece after euro :D. Inflation was crucial
So well explained. Thank you
Stay out of euro if you can. See what happened with prices in Croatia. It happened also in other countries. Save your economical sovereignity
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)
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.
Fantastic great video. Really great comparison.
I can say with high confidence that the EU today is in absolutely no place to negotiate with any of these actions to join the Euro. Not even all of these actions are in the Schengen zone. As well, these nations will also lose their financial independence as they give monetary policy away to the ECB, which has done an absolutely terrible job at controlling things in the past 15 years.
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*.
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.
Come on.. if Sweden wants Euro they will make it without any problem. You cannot compare Sweden with other countries..
Thank you for the videos. They are always interesting and great.
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 🇧🇬
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
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.
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
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
The case of sweden and the euro requires its own video...
The European Exchange Rate Mechanism, the reason sweden doesn't follow that is intentional, it is intentionally not followed in order to not be forced into the Euro.
Regarding the support, it depends on how you phrase the quesiton:
Since 2023 there have been four polls, two from Eurobarometer and two from SCB (Statistiska Centralbyrån (Central Statistics Bureau), basically the official swedish statistics/polling agency (operates under the ministry of finance)).
The results show why how a question is phrased matters.
Eurobarometer uses: 'Generally speaking, are you personally more in favour or against the idea of introducing the euro in Sweden?'
SCB uses: 'If a referendum were held today to replace the Swedish krona as a currency, would you vote "yes" or "no" with regard to introducing the euro as Sweden's currency?'
This difference results in (U = unsure)
Eurobarometer Apr-2023 : Y 54% // N 43% // (U 2%)
SCB May-2023: Y 30.6% // N 50.5% // (U 18.9%)
Eurobarometer May-2024: Y 55% // N 43% // (U 2%)
SCB May-2024: 34.4% // N 46.1% // (U 19.5%)
So, are people in favour of the euro? yes. Do people want to switch to the euro? no.
as a swede I hope we never adopt the euro. The eu has only caused chaos to erupt within our country and it would be insane to even consider giving more economical power to the union.
The problem in my opinion is that The Eurozone is lacking common financial policy.
It is a problem, but overall Euro works quite well regardless. There are pros and cons, but overall pros to me overweight the cons. And like you said, I do think it's actually biggest problem. It would just take huge political alignment to fix the issue.
You mean fiscal policy. Neither the USA nor Canada have a common fiscal policy and a common currency seems to be working fine there.
@@dutchcourage70they do not have the same. Us us the US Dollar and Canada is using the Canadien dollar
@@elliotwizerd I know that. Point is that both the US and Canada are federal states where each state/province has its own fiscal policy. This comparison is especially applicable to Canada, where there are no formal limits on the deficits that provinces can run. And yet, they all share a single currency backed by a federal central bank.
The one thing that the Eurozone should do is slowly grow the federal budget relative to the national budgets, so that there is more coordination of fiscal policy. This can easily be achieved by transferring defence, foreign policy, and border defence budgets to the Eurozone.
@@dutchcourage70 the bigest diffrens is that Canada is one country while EU is several diffrent countrys that has diffrent intresst
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
There is actually no difference at all whether the currency is Euro or any locked to the Euro, but the spelling of wording on the notes and coins.
We in Sweden don't want to joint that snitty currency. If we had it in 2006 we would have had it faar worse in that economic crisis
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.
I think Romania is potentially a candidate to adopt the euro within 5 years, potentially sooner than even Czechia and Sweden.
High public approval + Strong political support means the country can be reformed quickly, and they could turn the race around more easily than any other country. (Well, it's not a race, but you get my point.)
Yes.
I'm Czech and all for adopting the Euro, it just seems much more convenient.
Euro currency sucks, props to any country that doesn’t want to join the eurozone.
Thanks for the video
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.
man, I love those unskippable ads
Hopefully more join soon, great video!
Now adopting euro in Poland will drastically damage our economical development and I as a Pole, really think we don't need euro.
Of course, good relations and cooperation with eurozone, I'm fully agree but own currency is much better (maybe it will change in a future but now definitely not)
That depends on a few factors on how the economy is structured, but if done right, the Euro should help the economy grow more, but either way, I think Euro zone countries are in a good position long term because the longer they are in the Euro, the more if forces them to restructure the economy to align with other Euro countries, that over the long run will have a lot of economic benefits for those members, it will also very likely push more EU policymaking towards Euro zone members at the expense of none members, especially as most countries are in the Euro.
Because of all that, I think all EU members will join the Euro some day out of self-interest, but for some, it could be awhile off, decades even, but the ones that join sooner will be able to reap the economic benefits by doing the reforms needed to benefit from it.
You will get to a point where all of the low hanging fruit for growth, like building infrastructure and high education, will have allready been gained. After that, only euro adoption, or big EU trade deals, will be able to boost standards of living.
@Hession0Drasha And then we will probably enter the Eurozone (hopefully after carefull preparation to avoid what happened for example in Italy). But until then, Złoty is simply more beneficial to our economy and adopting Euro would just hurt our economical growth. I'm 99% certain Poland will change to Euro in future, but it needs to be done at right and carefully planned moment.
As a Polish person, I'm glad we are not in the Eurozone and I hope it stays like this. We are doing great with złoty
Keep in mind we have to join. We got the advantages - high time we fulfilled the obligations.
To be honest I don't fully understand the benefits and drawbacks of joining the Euro and I bet 95% of people don't either.
I'm still not sure how it works with rich countries and much poorer countries sharing a currency but the US does it with its 50 diverse states so there must be something to it.
@@globuscola *Theoretically* we have to. We have no interest what so ever in hurrying up with this tho. So practically we shouldn't.
@@Radonatorr Which is not an excuse to do nothing. At least start preparing, because we gotta do it! We have just been procrastinating for the past 20 years.
@@BKRUclips-zq3yv The main benefits to a single are that it makes economic calculation and comparing prices easier, and you don't have to worry about exchange rates changing or conversion fees to buy and sell things in the Eurozone. it lets investors and businesses do business in a currency that can be exchanged for many, many more goods or assets increasing what economists call liquidity. And in general, prices are more stable for this reason.
I, for one, as a Czech citizen, would never want euro. I think that having our own currency is part of what makes our country unique. I would never really want to change it, if only for the reason that I am used to our currency
I am tired of Czech Koruna, I'd rather use euro than converting everything
IM glad Poland doesn't meet the requirements, we DON'T want the euro
I am a Dane living in the South of France and most French people I talk to thought it was an expensive decision for those with euros. The prices of food became higher but the wages did not and they became poorer. Euro is a weak currency
The Euro is the second strongest currency in the world. And the strongest whenever the Banana Republicans are in charge in the US. But yes, a change of currency does cause a single year of extra inflation as every business rounds up when converting prices.
@@Carewolf Yes, that is true, but the currency is probably only strong because countries from Germany and to the north are strong and those to the south are weak such as France, Spain, Italy and the others. But isn't it also the only currency that is used in so many different countries?
Denmark has voted no thanks twice to the euro.
Did they talk numbers? How much did a product cost (in francs) the week before joining the eurozone and how much did it cost the week after joining (when revalued back in francs). Often hear arguments the prices went up but statistics show vary low change (inflation) and no one of those who oppose the idea mention numbers.
@@Carewolf Which seems to be a few cents per item. A loss of less than 10 euro (at the worst) per month. Not pleasant but not armagedon like scenario.
Yeah, the French. and old people who don't like change and compare price 20 years ago. "Felt truth" How did the French adapt that now a Dane is living among them. Surely they are flabergasted.
Using euro is an absolute stupidity for most of the listed countries. The ability to denominate and regulate ur own money is essential for all of this countries economies. In case they actually move to Europe they will lose their advantage in export prices and will slowly degrade. Hungary’s economy is alive almost only due to its inflation
I hope we never have a euro here. Euro is good for Companys and merchants but not for normal people. Greetings from Czechia
As a Bulgarian, I hope we adopt the euro as soon as possible. Unfortunately, a lot of the pro-putin politicians and parties here are spreading misinformation about the euro and the government seems to not do enough to counteract that.
Same
Exactly!
The Russians will hate to see Bulgaria in the Eurozone and Schengen, which means away from their tentacles.
Golden ticket into Eurozone, come on, even if you are a true believer in eu, joining the eurozone is an entirely separate issue and has many cons. A country/its central bank, looses the ability to independently set interest rates to help juice its economy when there is a slowdown and it no longer controls its national currency among many other issues. What is good economic policy for Italy may be terrible economic policy for Sweden at any one point in time for instance, so the ECB is often forced to move more slowly than ideal compared to other central banks and let’s be honest, it has shown deference towards what is best for Germany in reality. I can certainly see the appeal of a single currency for people that believe in a united Europe but even with rose tinted glasses I wouldn’t say it’s a golden ticket - at best it’s an obligation that may be worth the sacrifice for Sweden or Poland (maybe Denmark eventually too) but at least for now there are no good reasons for them to join. For smaller countries/economies, it could be a great idea for many reasons such as taking on debt and basically linking themselves and their central bank to Germany. That said, It is certainly no golden ticket though
@@markdickson3820 So what do you think about Bulgaria, since it's closes to join? Good or bad?
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.
I'm pleasantly surprised at Bulgaria! We're doing very well! However, inflation is really bad and the salaries are not able to keep up with it. I am worried that adopting the euro will only make the situation worse. If the government can prove that they can increase the salaries to match the insane inflation, then maybe it would be a good thing to join the euro. Currently, I feel that we're not ready yet... Especially with many salaries being like 200-400 euros monthly and pensions still being 100-200 euros monthly! Apart from maybe people in Sofia, Bulgarias will suffer if we join the euro now.
I hope my country would.
(Crying in Swedish)
Jag hoppas att vi inte går med hade varit riktigt dåligt att gå med i euron nu när vår kr är så svag
For a long time it was believed that Sweden would never join Nato. Now they are full members. There is a decent majority in favor now and Sweden among all of the countries without the Euro is the one with the highest level of development. They basically just need to pass a legal reform for their central bank and join ERM II (which they quality for already). It mostly comes down to the continued public support translating into government policy priority. I think an interesting thing would be how this affects Denmark. Finland joining Nato led Sweden to do the same. If Sweden joined the Eurozone, Denmark may decide to as well. Denmark's public support for the Euro is at an all-time high and just two years ago they had a 2/3 majority referendum for removing another opt-out (the one on defense). It would be interesting if Bulgaria joined and then the next two were Sweden and Denmark ironically
@@Thejoker14444 ja borde gjort det innan när läget va bra
@@falsevacuum4667 Do you forget that Sweden had a referendum about the Euro where we voted no. Reasonably at least a new referendum is needed for democratic legitimacy. Also this is the first time opinion is positive to the Euro and we are just at a tailend (hopefully) of a couple of crisis, maybe it would be good to see how the opinion develops over a full economic cycle.
@@NikoBellic04 Don't forget the Euro almost crashed....... do you really want to take on that risk?