27.05.2026
Assoc. Prof. Ralitsa Simeonova-Ganeva from the Faculty of Economics and Business Administration at Sofia University „St. Kliment Ohridski“ took part in an episode of the BBC World Service program The Inquiry, dedicated to the topic “What’s the Future for Monetary Unions?”.
The episode explores the future of monetary unions from both historical and contemporary perspectives — from examples such as the Scandinavian Monetary Union, through the development of the Eurozone, to plans for a common currency in West Africa.
During the discussion, Assoc. Prof. Simeonova-Ganeva presented the Bulgarian perspective on the process of joining the Eurozone. She emphasized that Bulgaria’s adoption of the euro is not a sudden change, but rather the natural culmination of a long process of monetary integration that began with the introduction of the Currency board in 1997 — initially with a fixed exchange rate to the German mark, and later to the euro. Among the main economic arguments are the reduction of transaction costs, the limitation of residual currency risk, and full participation in the institutions of the Eurozone.
At the same time, Assoc. Prof. Simeonova-Ganeva noted that adopting the euro alone cannot solve the country’s internal economic challenges. Productivity, institutional stability, and the quality of economic policy will be key factors for long-term success.
The episode also features Prof. Barry Eichengreen from University of California, Berkeley — one of the world’s leading researchers in international monetary and financial history; Prof. Mohamed Ben Omar Ndiaye from Cheikh Anta Diop University, Senegal, who presents the perspective on the West African common currency project; and Dr. Judy Shelton, Senior Fellow at The Independent Institute.
The participation in the program places the Bulgarian case within a broader international context. Bulgaria’s accession to the Eurozone is important not only as a national economic process, but also as a sign that European monetary integration continues to evolve despite the challenges facing the Eurozone.
The episode is available on the BBC website: BBC – The Inquiry: What’s the Future for Monetary Unions?