BNB Governor: In the Eurozone Bulgaria will maintain its conservative monetary policy

Previous enlargements of the eurozone have led to economic booms followed by downturns in newly admitted countries. This is usually due to the European Central Bank's too low interest rates for low-debt, high-growth economies, which are often the newly admitted countries. While the most striking example is Greece, economic downturns have also affected countries that, like Bulgaria, had communist rule in the past with its inherent underdeveloped financial systems and regulations, Radev analyzed.