Bulgarians at the Heart of the European Central Bank - Equal Voice for Bulgaria in the Eurozone from January

Many Bulgarians are already working at the European Central Bank (ECB), contributing to the preparation of key decisions made by the Frankfurt-based financial institution. From the start of next year, Bulgaria — as the 21st member of the euro area — will have an equal voice in shaping the ECB’s monetary policy.

This month’s ECB meeting is taking place in Florence, where new data on economic growth and interest rates are being closely watched, as they serve as key indicators for all economies in the eurozone. For the first time, a television crew has been granted access to film part of an ECB Governing Council meeting — BNT journalists Nadya Obretenova and Boris Sotirov were behind the cameras. Their documentary “Bulgaria and the Euro” airs tonight at 21:30 on BNT1.

“Our voice will be heard,” says the programme’s title.
Among those featured is Asen Lefterov, a Bulgarian legal expert who has contributed to the last six ECB convergence reports on Bulgaria. Having monitored the country’s progress over the years, his current work focuses on the financial systems of other member states. When asked by 'BNT News' whether Bulgaria’s accession to the eurozone will lead to changes in interest rates, he replied:

Asen Lefterov, Senior Legal Counsel at the Supervisory Law Division of the ECB:“There should be no difference between the situation before and after Bulgaria joins the euro area. Many of the key elements will remain the same.”

Another Bulgarian at the ECB, Janeta Shinkova, ensures that the institution “speaks Bulgarian” — she translates all ECB decisions in real time for the bank’s official website. She notes growing interest among German collectors in Bulgarian euro coins:

• Janeta Shinkova - Senior Translator, Communications Directorate, ECB: “I’ve already seen websites where collectors are actively promoting sets of Bulgarian euro coins.”

Valentina Geneva, who leads the ECB’s Digital Communications team, is responsible for how ECB decisions reach financial institutions and everyone in the euro area. BNT’s team met her as she prepared for a press conference by ECB President Christine Lagarde:

• Dimitar Radev told BNT: Prudent management of spending is needed, incomes can grow

Valentina Geneva - Head of Digital Communications Team, ECB: “An entire team stands behind the organisation of each press conference — everyone plays a role to ensure that our decisions are clearly communicated both to the markets and to EU citizens.”

Footage from an ECB Governing Council meeting — filmed for the first time by a Bulgarian crew — will also be shown in the programme. During the meeting, Christine Lagarde herself lent a hand when a brief mix-up occurred:

Christine Lagarde, President of the ECB:
“Good afternoon, everyone. I’d like to welcome all members to the 588th meeting of the Governing Council. Welcome to Governor Radev for joining us... Alright, take two.”

Alexander Popov, Adviser in the ECB’s Research Directorate, points out Bulgaria’s forthcoming transition on the eurozone map:

Alexander Popov, Adviser, Directorate-General Research, ECB:
“Countries that already have the euro are shown in dark green, while those yet to join are in light green. Here’s Bulgaria — soon it will be coloured dark green.”