Bulgaria and the Euro: More Than 1,000 Inspections Carried Out, Fewer Than 10% in Breach

The introduction of the euro in Bulgaria is proceeding smoothly, according to Vladimir Ivanov, chairman of the newly established Coordination Centre for the Introduction of the Euro in Bulgaria. He noted that in the first days of the currency’s introduction, the majority of violations have been observed in the services sector.

Vladimir Ivanov, Chairman of the Coordination Centre for the Euro:
“There are no problems in banks, and no problems in supermarkets. Overall, people are adapting normally to the new currency. We have carried out a large number of inspections—probably more than 1,000 since 1 January—and the results show that fewer than 10% are in breach overall. By and large, most people are complying with the law. Negative incidents are very few, and the services sector appears to be the most problematic, mainly in smaller and less public-facing businesses.”

Mr Ivanov added that the monitoring system is operating at full capacity.

Vladimir Ivanov:
“The control system is currently functioning at its maximum—and even beyond. Literally at the biological limits of the inspectors. What I mean is that we have a very well-directed information flow to citizens. We aim to prevent panic and avoid negative behaviours that could affect people psychologically. Economically, the process is running very well, and the environment is very transparent.”