Preparation for joining the euro area: Banking sector in Bulgaria is ready for the country's membership

The banking sector in Bulgaria is ready for the country's euro area membership. A continuous organisation and internal processes in the systems are underway, explained Svetoslav Milanov, CEO of one of the banks in the country, during the forum "Finance: Equations and Solutions" on November 19.

According to him, logistical problems are possible in the first days of the launch of the euro in Bulgaria, but this will be quickly overcome.

Svetoslav Milanov also commented on the achievement of the conditions for the adoption of the euro in Bulgaria on the eve of the adoption of the new state budget.

"We need to be clear that this is a goal that must be achieved by all means. I cannot judge whether these measures will be sufficient or not. I am talking about the ones that are being discussed, but even if they are not enough, others will be found and the objective will be achieved. As we are all aware, this is the way, it is the way that has been mapped out and it will be achieved one way or another, regardless of the means and regardless of whether we will like some of the measures that are being proposed, because there are quite a few unpopular, strange ones in them, but we shall have to see. We have been ready for a long time, and there is a constant organisation of the internal processes connected with the systems. There is no doubt about that. There should be absolutely no problem. Perhaps there will be purely logistical problems relating to the banknotes themselves, to the organisation of day one itself, when the process itself starts. These are things that are being discussed, are being considered, there should be absolutely no problem. We are not the only ones who have done it," Svetoslav Milanov said.