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Central Bank Governor: Transition to Euro Successful, Now Outcomes Depend on Quality of Decisions

bta.bg · 4h · first reportShare

Bulgaria entered the euro area with a well-capitalised and liquid banking system, a conservative supervisory tradition and a well-developed macroprudential framework, Bulgarian National Bank (BNB) Governor Dimitar Radev says in his publication "The euro is a framework. Stability is a choice", part of the latest quarterly bulletin of the Association of Banks in Bulgaria (ABB). "This is a national asset. It must not be taken for granted or gradually depleted in pursuit of short-term market share," reads the analysis, published on the ABB and BNB websites on Friday. "The transition was successful. That is a good start, but only a start. From this point on, outcomes will depend on the quality of decisions and the consistency with which we implement them. The euro is a framework. Stability remains a choice," the BNB Governor says. Radev notes that the initial assessment seven months after the introduction of the euro is positive: payments continued without disruption, accounts were converte