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 It's a trap

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GeshiSimon
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PostSubject: It's a trap   Fri Mar 31, 2017 3:26 pm

It's a trap, don't fall for it Bulgaria

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justbazz
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PostSubject: subject   Fri Mar 31, 2017 3:51 pm

I avoid Euros like the plague...not too sure why Bulgaria even bothers with them.
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GeshiSimon
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PostSubject: Re: It's a trap   Fri Mar 31, 2017 4:06 pm

[You must be registered and logged in to see this link.] wrote:
I avoid Euros like the plague...not too sure why Bulgaria even bothers with them.

I lived in Germany for about 8 years and he greatest complaint about the Euro was the increase of the cost of living when it was introduced. the only reason that Bulgaria is "pegged" to the Euro is that formerly it was  "pegged" to the Deutschmark and when Germany entered the Euro currency zone Bulgaria followed suit by being "pegged" to the Euro. I may be mistaken on this and often am, but how many nations in the EU use cyrillic script? If only one, Bulgaria, then why put it on the Euro when this countries currency is Lev. Why not Chinese also?
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justbazz
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PostSubject: subject   Fri Mar 31, 2017 5:27 pm

My thoughts exactly Simon...BG is pegged to the Euro, but unless you are a high flyer, it doesn't really mean much. The average person here doesn't play in the currency market, nor do they make many purchases outside of the country...they recognise and are quite comfortable with their very own Lev.

As an aside...my personal financial situation is firmly connected between the Lev and the Oz dollar...I move money when the climate is healthy...if the exchange rate is unfavourable, I skimp until the rate improves and usually pays off in the long run.

Euros?...Bulgarians have a rather unsavoury word, in Cyrillic, which matches my view of that currency!
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oddball
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PostSubject: Re: It's a trap   Fri Mar 31, 2017 8:21 pm

Why use Cyrillic script?

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Blink
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PostSubject: Re: It's a trap   Sat Apr 01, 2017 8:21 am

Avoid avoid Bulgaria
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bulgariabill
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PostSubject: Re: It's a trap   Sat Apr 01, 2017 9:35 am

Quote :
Why use Cyrillic script?

Probably in preparation for this ???

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willowsend
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PostSubject: Re: It's a trap   Sat Apr 01, 2017 10:42 am

Polls have shown a slim majority of Bulgarians in favour of the country joining the euro zone, though public opinion in favour of the move showed a notable downturn in favourable opinion about euro zone accession in the wake of the Greek crises of recent years

Would this be good news for non Bulgarians

I have another question relating to the voting day. Why is alcohol banned on that day, as one Bulgarian said to me, it shouldn't affect us as we are not Bulgarian and we are not involved with the voting  c
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varnagirl
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PostSubject: Re: It's a trap   Sat Apr 01, 2017 11:33 am

[quote="bulgariabill"]
Quote :


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Beemmeup

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could do without news like that
between Bg getting the Euro as currency and Brexit... we are basically F**ed !
imho
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oddball
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PostSubject: Re: It's a trap   Sat Apr 01, 2017 1:50 pm

[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
Quote :


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Beemmeup

Bill

could do without news like that
between Bg getting the Euro as currency and Brexit... we are basically F**ed !
imho

If BG is getting the Euro currency than we might as well go back to the UK

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willowsend
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PostSubject: Re: It's a trap   Sat Apr 01, 2017 11:04 pm

The father of Bulgaria's currency board has warned against scrapping the regime as it gives the country "a big prestige", being the only sphere of governance that remains untarnished. Prof Steve Hanke has told Bloomber TV Bulgaria that the currency board helps the country retain its fiscal sovereignty, a dangerous step against the backdrop of a tense political environment. No-one knows what will happen to the Eurozone from this moment on, especially given the presidential election due in France this spring and the risk of Brexit-style developments, Hanke has warned. In his words, the currency board allows one to issue their own currency which acts as a clone to an "anchor" (or "reserve") currency. The arrangement helped do away with hyperinflation back in 1997, he has recalled. Steve Hanke, now a Professor of Applied Economics at The Johns Hopkins University in Baltimore, US, advised President Petar Stoyanov in 1997 on the introduction of the mechanism. The currency board mechanism pegs the lev to the euro at a fixed exchange rate and ties the level of levs in circulation to the level of foreign exchange reserves. His comments follow indications that Bulgaria's interim government is ready to seek accession into the ERM II mechanism, the so-called Eurozone "waiting room". The move would effectively place an end to the currency board arrangement applied to the lev, passing on fiscal authority to the European Central Bank. During a visit to Bulgaria in May 2015, Hanke claimed Bulgaria had been an informal part of the Eurozone through its lev/euro peg and there was no need to take further steps which would result in a catastrophe. - See more at: [You must be registered and logged in to see this link.]
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Daisy
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PostSubject: Re: It's a trap   Sun Apr 09, 2017 10:30 pm

I sincerely hope that Bulgaria doesn't join up for the Euro it will become so expensive to live here. s
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justbazz
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PostSubject: subject   Mon Apr 10, 2017 4:33 pm

That's the way I see it too Daisy, but what about the large percentage of Bulgarians who are finding life difficult in the current financial climate? What sort of future would they face?
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PostSubject: Re: It's a trap   Mon Apr 10, 2017 7:15 pm

[You must be registered and logged in to see this link.] wrote:
That's the way I see it too Daisy, but what about the large percentage of Bulgarians who are finding life difficult in the current financial climate? What sort of future would they face?

They would not survive Bazz. In our village we have only elderly folk and they live on tiny pensions, it breaks my heart to see them scrimp and save on everything. The younger generation are for the euro because they will get paid better, but of course they have not thought further than their nose and try to explain that everything will go up in price is a complete waste of time. It is like when they go to UK to work they think the money is fantastic and of course it is, but when you have higher bills to pay you are left with nothing much, so many of them have come home again.

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willowsend
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PostSubject: Re: It's a trap   Mon Apr 10, 2017 9:10 pm

. It is like when they go to UK to work they think the money is fantastic and of course it is, but when you have higher bills to pay you are left with nothing much, so many of them have come home again.


Berni, it's like when all as Brits bought property in Bulgaria 10 to 12 years ago thinking we would all get jobs and the cost of living was much lower, how many of the estimated 12.000 who bought are still in Bulgaria, not many, they have all returned to the UK.
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