The Euro - Who Will Join Next?
Vložit
- čas přidán 11. 11. 2022
- There are 8 European Union (EU) Members that do NOT use the EURO (Sweden, Denmark, Poland, Czech Republic, Hungary, Romania, Bulgaria and Croatia). Why don't these countries use the Euro? And when are they likely to join? This video will analyse the Eurozone today and how it may look in the future. This video is part of my EU legislation series where I will do quick 2-3 minute videos regarding EU Legislation, Directives and Resolutions.
SUBSCRIBE & LIKE the video
Is the EU Democratic: • The EU is NOT Democrat...
Is a Federal EU like the United States Inevitable: • A United States of Eur...
An EU Army will beat China and Russia: • An EU Army can challen...
Channel homepage:
/ theeumadesimple
Key Sources:
Source 1: Croatia Week, Design of Croatian National Side one Euro Coir
www.croatiaweek.com/design-of...
Source 2: Investopedia, Eurozone
www.investopedia.com/terms/e/...
Source 3: Wallstreetmojo, Eurozone
www.wallstreetmojo.com/eurozone/
Source 4: euobserver, The Euro - Who is Next
euobserver.com/opinion/155359
Source 5: dbn, The Euro and Europe www.dnb.nl/en/the-euro-and-eu....
Source 6: VOA News, European Central Bank Makes another larger interest rate hike www.voanews.com/a/european-ce...
Source 7: ECB, Convergence Report www.ecb.europa.eu/pub/pdf/con...
Source 8: Bound Blog, Why does Denmark not use the Euro
www.bound.co/blog/why-does-de...
Source 9: Euractiv, State of Play Eurozone Enlargement www.euractiv.com/section/econ...
Source 10: Euractiv, Bulgarian Parliament Obliges Vabinet speed up Eurozone Entry www.euractiv.com/section/all/...
Source 11: European Commission, Eurobarometer
europa.eu/eurobarometer/surve...
Source 12: Wikipedia, EU Convergence Criteria
en.wikipedia.org/wiki/Euro_co...
It's amazing how much information you can pack in less than four minutes and make it understandable (helped by great visuals of course). Thank you!
Thanks!! it's always a challenge finding the right amount of content to fit into such a short video.
Hobl, It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
bullshit it's all lies Romania meets 100% all requrements to join Schengen . This video is a lie. This guy has no idea what he's talking about, it's simply out of his own thoughts no research. EU stated Romania meets 100% the criteria. Bulgaria on the other hand doesn't . These videos with misinformation should be blocked and the owner of the channel blocked as well
România power!!! We are the ones that want it the most but meet 0/4 criteria 🤘💪💪🤙👏🇷🇴🇷🇴
I wonder why? Clearly it's not because our fucking governement wouldn't be able to steal more if that happened...
Lol!:'D
Gj Romania 🇲🇩🇲🇩🇲🇩
Then take one for the team.
@@reasonerenlightened2456 ROMANIA NUMBA ONE 💪💪🤙🇷🇴🇷🇴
I had no idea Sweden was sabotaging its Eurozone entry! Not the most important thing I learned from this video, but definitely the most surprising!
Poland, Hungary and Czechia are doing the same.
@@anthonysimmons3281 I can speak for Hungary. The government is not very thrilled about the Euro, but one of the requirements is a public dept of
Well they have a stable currency, so it's not so important to adopt a stronger euro
@@kolle128 What about Baltic states, which are even smaller, have EUR and lead in inflation? This high inflation is obviously caused by unfriendly neighborhood of RUS. Anyway ... EUR didn't save them from this influence :)
@@jerzyzbiaowiezy9243 well yeah, there is the dependency on Russia, and the withheld EU money also does no favors to our currency which makes everything imported more expensive, hence more inflation.
I would put Romania in 3rd or 4th place, since while Hungary and Poland are unlikely to adopt the euro on the medium term due to lack of political will and national pride, Romania is not opposed to joining the euro, it just does not actively pursues it.
National pride xD good one, i had a laugh.
I'd say euro isnt good for every country. Funny that after euro has been introduced to Slovakia and Lithuania they're doing shopping in Poland instead. Guess why. Because lack of euro currency.
@@kronos1096 Bro what the hell are you talking about? I'm also Romanian and unlike *you* I've actually looked into things. Romania has less corruption than Bulgaria or Hungary, acc to the Corruption Perception Index and ranks about the same as Croatia.
_"We are behind in all aspects compared to EU countries."_ - first of all, Romania is *also* in the EU. And this organization doesn't just mean *Western Europe.*
*_"From infrastructure to industry, to rights and democracy."_*
*What?!!* Child, stop speaking as though you are presenting a dire truth, when in fact you are just a young pick-me kid, that thinks they're being edgy!
*What* rights don't you have in Romania?! Have you ever looked are the Democracy or Human Rights indexes, to see where Romania stands?!
Forget that, have you ever *lived or traveled* outside the country?!! Romania is a *normal European state,* with acceptable infrastructure and industry & in fact it's been one of the fastest growing EU economies in the past 15 years.
Jesus
@@kronos1096 _"The political class is very corrupt, and the opposition doesn't have enough support of the population."_
*No, it's not. What are you talking about?* And the opposition being the USR party - they *were* in power, in a coalition & didn't do much.
Stop speaking like this, because people will take you seriously & imagine Romania to be some 3rd world country - when in fact it has a *normal* governance. It is not the best, but that's expected for a Eastern European country.
@@kronos1096 _"in the last 2-3 years an extremist and Eurosceptic party is catching up fast."_
*This is not true,* u dυmβ kid! Literally no one takes the AUR party seriously & it doesn't get any votes. U'r talking out of ur @ss
@@kronos1096 You have *no idea* what the criteria for adopting the Euro even is!
And about Democracy, if you look at the V-Dem reports for example, Romania has grown *a lot* in the democracy index over the past 10 years & is in the top 20-30% of countries when it comes to freedom, human rights & democracy, worldwide!
Please stop writing this kind of nonsense! And grow up
As a Croatian, I can't wait for us to join. Our people are already using Euros for almost everything, even when you talk about the prices of things such as cars, apartments, etc. Everyone is stating those in euros.
I ja sam jedva cekao dok nas nisu zajebali...
Guess what its 2023
How is it going using the euro in 2023 :)
why can you only withdraw 20 and 10 euros?
@@giovanni.roberto what do u mean?
I agree, the Croatian coins look really nice
The second one is based on our current currency called kuna (meaning marten), but it looks better now
@@ararune3734 I take it you're Croatian? Welcome to the Eurozone
@@ararune3734 The one with kuna is definetly the best design out of the 4
@@albevanhanoy Yes I am, and thank you, although the thing that matters more to us is joining the Schengen Zone
@@JmMateo933 I think so too, I like the idea of each country having their own designs, makes for a cool collection. Also a senimental reminder of cooperation in a way, because you can see from the symbol where the coin came from. Something nice for collectors
"Bulgaria has featured sound budgetary policy for most of the last 25 years. The budgetary position worsened during the global recession and the bankruptcy of one of the country’s largest businesses in 2009 - 2010 and of its fourth-largest bank in 2014 - 2015, but budgetary discipline was swiftly restored. The country has registered effective fiscal surpluses of 1-2% of GDP ever since 1998. This has allowed the government to reduce its foreign debt rather swiftly." Source "Sustainable Governance Indicators (SGI)" report.
BUUUUUU BULGARIA IS NEVER JOINING EURO MONEY F YOU 👎👎👎👎
Guess what's next if euro is about to come?
We need more EU channels!!!
No not really.
@@gunarsmiezis9321 Yes really.
It's a massive organization with a ton of stuff to discuss and there are only a handful of decent channels covering any of it, meaning that you have only a tiny amount of opinions discussing a vast plethora or topics.
@@Arcaryon Why would we want to understand the enemy? (Knowing that evil is corrupting.)
@@gunarsmiezis9321 are you alright?
@@serlucian9155 Yes.
The Croatian "Kuna currency" is pegged to the EURO so there is never much of a difference in the exchange rate.
So, Croatia doesn`t have a floating currency which would mean a proper independent monetary policy.
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
In Poland, the plan was to join the Eurozone by 2012. The 2008 stock market crash happened but basically did not affect Poland. Then, Poland "would not adopt the Euro before 2019". It is 2023 and Poland does not look like joining anytime soon. I doubt public support for the Euro is that high in Poland. If anything, Poland is looking for the same kind of opt-out Denmark has and that the UK used to have.
Edit: it's 2023 now. I wrote this in 2022.
Sagiv, It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
This is because Poland as a relatively large economy in CEE region benefits a lot from its own currency and floating exchange rate. Such a floating exchange rate is like a shield for Polish exporters and industry - making any external economic shock less severe.
This is much different situation than in Croatia or Bulgaria, where national currencies are pegged to Euro anyway.
@@chrislambert9435 thats a Brexiteer’s logic if ever I head one and it is rubbish. Look at the state of the UK’s economy in last few years and watch how it declines in the future. Imaginary gain of imaginary lost sovereignty has not really helped.
Ian, having "your own currency" has nothing to do with Sovereignty, then ? is that what youre saying ? LoL !
@@chrislambert9435 No, as the countries voluntarily chose to join Euro for other benefits. Nice to go abroad and have no issues and Ireland has not lost any sovereignty.
great quality video! I can see how much work went into it
Thanks :)
The main effort of the work was to deceive people because It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
As a Croatian, I believe euro will strengthen the economic stability and trade, and be beneficial in attracting more investment. The new coins are nice indeed .Looking forward to using euros starting 1/1/2023, but our salaries will seem so low comparing to what we earn in kuna.😅
Listen to Varoufakis. Euro is not that great.
@@reasonerenlightened2456 in croatian case it is, cuz central bank famously doesnt protect its citizens from outside shocks and price of goods gouging is visible to every1 here, we dont believe in our i institutions, depreciation of kuna killed us for years, so in case of Croatia it will be breath of fresh air after adjustment period.
I'm so glad Croatia is joining the Euro-family :D
im just tired of seeing EURO NAŠ NOVAC everywhere hopefully when we actually switch it will go away
Probably one of the biggest advantages of having own currency is ability to manipulate its value to subsidize your exporting potential (meaning state interventions can make importing from you cheaper for other countries). Because Croatia basically doesnt have any export sector that could benefit from those interventions its much better to join eurozone to secure cheaper money for overall spending so its ok...
In Denmark the Euro is used by all but in name. The danish krone is pegged to the euro and will always be around 7.5 dkk to 1 euro
Wow Croatian kuna is also 7.5 kuna for 1 euro. But we are ditching kunas in January next year.
@@jeangulfran me and my Danish friend always found that funny how kuna and krona are 1/1 in exchange haha
@@croatianwarmaster7872 Yea Imagine the coincidence. They have a slightly bigger standard from us though, but we are not so far away.
Sigurd, It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
Its basically because the danes are eu-sceptics. In reality the would go the norwege way: no eu, yes nato, and fuck the rest
Great content as always!
Yes, because its a great "control project" It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
@@chrislambert9435 all countries can take they sovereignty back if this setup doesn't work for them, like UK, or reintroduced borders like many did during Covid... no problem there. Who wants out, let them be out, again no problem. Myself I want benefits which I can see and feel like peace in Europe, Europe without borders, it is much easier to do business. Coming from country that was until recently out I can clearly see the benefits.
It’s amazing how missunderstood we are as a country down here in Romania.
We do not want the Euro. We just want Euros in general.
😅😂🤣
😂😂😂😂😂😂😂😂😂
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
I misunderstood that - is it not the same? Pls explain
Lol
Please need more updates about EU and schengen countries
Accept this as an update, It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
As a Bulgarian I am for us to join the euro zone.
Big mistake!
You mentioned that it might be easier for a country to bounce back in case of a financial crisis, which would be an advantage when not joining the Eurozone. What would be the advantages for joining? Would it affect the spending power? And also if a country joins the Eurozone, what would be the implications for countries that are already part of the eurozone? Does it simplify trades? Does the Euro in total become more stable, or might stability even decrease depending on the financial situation of the joining country? Is it so clear that joining the Eurozone would have net benefit effects for both the joining country and the countries already part of the Eurozone? I have the feeling that there might be some rather complicated and maybe even counterintuitive implications.
You bring up a lot of interesting questions. I'm pretty sure it would simplify trade at least a bit, but how this weighs against other concerns I have no idea.
These are great questions. This won't be the last video I do about the eurozone. The big one i feel is trade. It makes it easier for companies and trade within the area. And it also provides stability within the eurozone and the country joining. Big topic though :) it's on my list
In the case of Bulgaria, we currently have a hard peg to the euro. If we join the eurozone we get to have a voice in the direction of the euro, simplify trade, and simplify tourism which is a big part of the economy. Prices will also actually become slightly lower since 1 euro ~= 1.96lv so a can of coke that used to cost 1lv will most likely change to 0.50€ but that’s actually worth 0.98lv. We have also seen from other countries that there are no immediate price hikes from adopting the euro.
Now, the alternative is to abolish the peg which would give Bulgaria back control to devaluation its own currency. This is good in a time of crisis (as we are arguably in one rn) but when times are good would create issues with foreign trade and investment.
My personal take is that we’ve managed to keep the peg throughout the 2008 crisis and have put in efforts to join the eurozone since well before we were even in the EU and it would be a massive waste to let it go to waste during the final stretch. But both joining and un-pegging would put us in a better situation than what we currently have.
As most noticable advantage i see economic grow. As having same currency allows way more easy monetary flow between countries. (And as somebody who have definitely better insight in those things than average Joe, i msut say it is way more important, than it can looks on first sight, just as example i can ask you... Why would you invest in foreign country, if it would require you spend additional interests for things related to different currency and it can be hidden in things you would not even expect them.)
@@iliamanolov5926 I am not sure about that first point. I am portuguese and i remember very well when we changed from escudo to euro. Most cheap things actually doubled in price. For example i remember coffee used to be 50 escudos which was 0.25 euros or 25 cents. When we changed instead of pricing coffee at 25 cents they priced it at 50 cent claiming it was for the sake of simplicity to still be "50" something. The same logic applied to almost everything priced up to 200 escudos or 1 euro. After that i guess it would be really bad to do that.
Great video! I'm curious if you know whether Iceland would meet these criteria, as things stand
Romanian here. In the last years I converted all my savings in euro. Big mistake, it seems, euro is losing value even compared to RON, not to mention USD or CHF.
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
Romania in cacat, ca de obicei.
@@Jfjs58-g Nu-mi dau seama cum ai ajuns la concluzia asta. Deci o moneda care s-a apreciat fata de altele e "naspa"? Inseamna ca Elvetia si SUA sunt in cacat mult mai mare. Si probabil in Ungaria si Turcia e super, ca s-a depeciat serios forintul si lira turceasca.
Ah, ca leul e tinut sus artificial de BNR si ca la un moment dat e foarte posibil sa explodeze... asta e alta discutie. Dar momentan e foarte bine pentru majoritatea romanilor.
@@hkgamma e hater prost lasa-l
It's a bad idea for countries like Romania and Bulgaria to join the euro. If things go downhill they won't have the monatery flexibility to make the necessary adjustments. People in those countries want the Euro because they think it will bring them closer to western european standards of living or that it will help them sort out problems like corruption of national oligarhies. They perceive Euro as a symbol not as a tool.
You are completely wrong about that. People in Bulgaria want the Euro for several reasons: To avoid the hyperinflation that happened in 1997 because greedy politicians printed money like paper and exchanged it for the euro, making themselves unbelievably rich while normal people lose everything they had. And for the lower tax rate for taking loans from EU banks.
@@dsdf5857 Bulgaria is a country that is infected with neo-liberal ideas in politics. Feudalism has return in Bulgaria when the Wealthy owners purchase houses for the families they hire to look after their Livestock and farms. The level of dependency is so feudalistic-like.
Only my 3 point plan could save the Bulgarians from the Wealthy Bulgarians.
1) Sufficient UBI paid by taxing ownership of Wealth.
2) Strict border control of wealth leaving the country and people entering the country.
3) Make a law about elections, that pays each voter a week's worth of minimum wage just for casting a vote. (Initially some people would vote just to collect the money but eventually they will start paying attention who they vote for)..
Other countries have punishment for not voting, it is better to have reward for voting. Any voter must get paid good money for casting a vote. It stimulates the economy too.
@@dsdf5857 The Bulgarian insanity of believing that taking a loan could ever be a good thing for the borrower..
@@reasonerenlightened2456 "Neo-liberal politics"? You clearly have never been in Bulgaria and don't know the slightest about our politics. And you should know that there is punishment for not voting.
@@dsdf5857 Bulgaria is so contaminated with neo-liberal thinking that it makes me sick. During the soviet years the Wealth of the country was extremely concentrated in government hands. After "The Perestroika" the Wealth became Extremely concentrated in Private Hands. The Bulgarians are so dumb for allowing the Wealth to be so concentrated and for selling out to foreigners. A nation of Slave-minded drones what the Bulgarian are. The smart ones have left the country.
No way that 60% people in Poland support joining eurozone. Its around 40-45% actually
Kosa, do not take your eyes off this, It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
Any data proofing that?
In Bulgaria only 20-30%
@@thecatsari9217 даже бих казал 15
@@thecatsari9217 cuz they are uneducated
very good video!!!
I really love your vids. Have you ever thought of making a video about the EU citizens initiative?
For example a QR code to remove all cotizens rights?
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
Bulgarian parliament re-confirmed adoptation of the Euro last week, so January 2024 it is
Уолтър, прибери си п...... Ултър.
I agree 🌟✅👍
Bulgaria is a country that is infected with neo-liberal ideas in politics.
Only my 3 point plan could save the Bulgarians from the Wealthy Bulgarians.
1) Sufficient UBI paid by taxing ownership of Wealth.
2) Strict border control of wealth leaving the country and people entering the country.
3) Make a law about elections, that pays each voter a week's worth of minimum wage just for casting a vote. (Initially some people would vote just to collect the money but eventually they will start paying attention who they vote for)..
Other countries have punishment for not voting, it is better to have reward for voting. Any voter must get paid good money for casting a vote. It stimulates the economy too.
rip bulgaria ... it was nice to have u my friend
@@reasonerenlightened2456 Are you from Bulgaria?
I will miss Croatian Kuna but the new Euros do look nice
I went to Croatia in 2018 and still have some Kunas left from the trip. The deset kuna bill with the Pula arena is my favorite.
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
Im especially found of 100 kuna because it has Ivan Mažuranić ( croatian ban ( viceroy) and poet ) on it. And my school has is that same name, and he is grandfather of bigest female poet and writer in Croatia who was first woman to ne nominated for Nobel price! I miss kuna it was way more nicer and better done than euro. But I like Croatian Euro coins!
Yes, that was a reasonable analysis.
Hello Europe. Bravo, good work! Rudi from Slovenija.
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
will be interesting to see if there is a new government in Poland next year, perhaps they will join Euro in the next 5 or so years. I reckon Romania and Hungary would join shortly after. Denmark, Czechia, and Sweden could take decades unless public opinion shifts significantly
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
Великая европейская цивилизация, Здоровье тебе Европа и процветания, я сам из России, но мечтаю когда нибудь посетить великую и гостеприимную Европу!!
Моя мечта объехать всю Европу !
Denmark’s currency is pegged at 2.5% of the Euro’s value at around 7.45 DKK/Euro, so it’s almost the same. I like it this way, because the Danish National Bank is able to control interest rates independently, and it’s close to free to exchange the currencies when shopping or using the banking system. :)
Poland doesn't like to join eurozone, and only several parties postulating that accession.
I bardzo, kuwa, dobrze :)
Poland has do stupid government and everybody wonders why is it so. The answer is: the ruling party understands the nation's spirit best of all avaliable parties. Our nation is bizzarre and made out of contrasts. Great part of opposition can't feel it and that's why they're losing.
We'll not accept euro.
Biedron, It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
@@jerzyzbiaowiezy9243 Jasne, drukujmy wincyj! Bedzie lepi...
The Schengen Area should include all EU members by the end of this year
Ireland won't join the Schengen Zone before Reunification. It would cause problems for the Border
Ireland?
@@Omnigreen forgot about them
Schengen is a good thing, creating one big European country under German-French rule is not
So Ireland, Cyprus(including northern part of the island?), Romania, Bulgaria are joining Schengen Area until 31 December 2022?
As a Bulgarian I'm really surprised that we hit the criteria.
Yes, they want to swallow you, It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
Bcs герб ги направи и те искат да влезем във евро никой друг еврото като дойде ще стане хаус
nice
When you mentioned Denmark. It does seem important to mention that while we don't want to join the Euro. We have decided to strongly tie our currency the kroner to it so much that it essentially follows the value of the euro at a almost fixed distance. Making us get all the advantages of the Euro without the disadvantages.
This was mentioned, and also you don’t get all the advantages, as frictionless trade isn’t assured cos you still have to convert currencies, which is a hassle & costs money. Trade would still be more optimised if euro were to be adopted. Og ja jeg er Dansker
Exactly.
@@plasmacannon1198 well that is where we disagree. The little hassle there is in trade with the current system is well worth the potential independence it affords us.
@@steffensegoviahelbo5065 oh no i Wasn’t arguing for any position, just saying your initial statement wasn’t entirely true. I mean I’m probably pro full euro but my opinion isn’t strong enough. Would like to not have to convert currencies all the time but I also don’t really care. Just saying that you have “all the advantages” just isn’t true when there is still additional hassle & costs.
@@plasmacannon1198 well I guess that depends on at what level you consider a hassle negligible and irrelevant to the overall picture. To me the currency converting is today so automated and negligible that I would not consider it. But I guess that much is clear from the conversation so far.
One thing to mention about Romania is that *we did* use to meet about half of the criteria, in past evaluations. But the Covid pandemic & now this crisis tied to the war in Ukraine immediately after, ofc threw things off - as the govt prioritized the rebound & growth of the economy, plus the wellbeing of the population, over 'convergence criteria' & things of this sort.
The Euro is not a priority for us, as it will have both upsides and downsides for the economy, in about equal manner.
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
I could see a new future member like North Macedonia racing ahead of the pack and join the eurozone very shortly after joining the EU. I also wonder how Montenegro's use of the euro would be treated if/when it joins the EU
They will need at least 10 more years to join.
Please make a video about Cyprus when Schengen
Thank you for the video! Would be good if there was a short explanation about what single currency means for the biggest single market in the world (EU).
Great suggestion. Won't be the last video that I do on the Eurozone :)
I live in Bulgaria and I can comment that the information you are presenting is legitimate. Great work!
Bulgaria shoud keep lev ,avoid adopt euro
I am bulgarian and this is not a legit video wow we want to keep oir currency
I live in BG also and I want the euro. For sure there will be stress at the beggining but long term the integration is better.
@@todornikolov2606 eu is collapsing bulgaria should leave eu
@@filipvasilevski8115 really and probably join EAEU?!
In Romania big purchases like cars and houses are listed in €, sometimes even salaries, everyone here has a sense of how much a shopping item is worth in euros.. Also the RON currency is pretty stable when you compare it with Polish Zloty... since 2008 1 PLN is about 1RON
Radu, It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
@@chrislambert9435 I dont agree with you. In my ideal world there would be only one currency.
@@chrislambert9435 what are you sayiing is a big bullshit..for your info: check the slovakian evolution economy since they switch to euro curency in 2010 ..there was a an economical boom ...you can be "sovereign" / "independent" as Serbia,Macedonia, Moldova , Kosovo but poor or "slave" of EU but rich...
da Radu,dar daca cumperi cu credit ipotecar , tot in RON se face tranzactia si asta conteaza cel mai mult in final.Si majoritatea tranzactiilor imobiliare se fac cu credite ipotecare
I am from Bulgaria and WE DON'T WANT THE EURO!
As a romanian, I don't want the change for euro. There are more benefits of having your own currency. That's why the UK never went for euro for example.
Don t compare the sterling pound with Ron, the sterling pound is the fifth most valuable currency, while Ron is very far being as valuable as euro or sterling pound. They don t have any reason for changing their currency
Ai gândit o bine mane
Same, like the mentality of the society is broken, like flexing with euros instead of lei
And the thing is that a lot of things are calculated in euro, from houses and cars until even fcking phone bills, and the citizens have to buy where with lei, so the economy is weakening
We should be focusing on pricing in the national currency, and buying more lei and less euros.
I think, adopting the Euro make the people feel more connected with the rest of the Eurozone countries.
If you have other currency, you may feel yourself disconnected.
Europe is very different from USA and I believe that when we will aim at creating one big state, it wont end well.
Germany has already shown they dont care for interest of central European countries and they fed Putin and let him rise.
Cooperation, free trade, flow of people and capital - YES, superstate - NO. Especially not under German rule
@@jerzyzbiaowiezy9243 wise words
there's a limit on how connected we want to be though.
We don't want to become like US-Superstate.
We want to be close... but not THAT close.
Euro was a huge mistake that did tremendous damage to some countries.
Damage that they will NEVER be able to heal.
Yes Fully connected & even absorbed plus swallowed up, It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
I do not agree , the Euro is the biggest mistake ever made - remember the Eurocrisis - look at the balance sheet of the ECB - the Eurozone is virtual bankrupt
The BNB Bulgarian national bank is following the same monetary policy as the ECB atm, the benefits of joining will be for the banks, they will have access to the ECB capital + the countries themselves will have access to the easing programs of the ECB. The inflation won't last much longer, if history tends to repeat itself Deflation is coming next. Then countries such as Croatia will have access to the printing machine of the ECB.
How the exchange rate is established between Euro and local money for the countries which would like to switch to Euro?
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
With 4 months in Croatia is definitely swimming ok with euro. We ware afraid of prices, but for now its all the same only projects and investments are getting better because we have euro. All in all its goid, still i miss our KUNA cuz it was way way more beautiful but we like at least our coins! Hugs from sunny Croatia 🇭🇷!
great to hear :)
I loved my holiday in Pula this september. (I dived for the first time😁)
Romania has the highest support for adopting the euro? I am Romanian and not keen on adopting the Euro. In fact, there is not much talk about that here. Where are those supporters?
Same with Poland. All the Statistics in this video are wrong.
I want the euro, fuck the leu... is one of the worst currencies in Europe.
@@mariusremus9401good luck shit
Then go and cry and eat roaches on bucharest if we enter to euro
Half of your beggars from bucharest will eat from trash can
You have a shot of the old city of Stockholm for Bulgaria at 3:00
3:23 when I first saw this I was sad,good thing it was a mistake I googled it and it said we have all criteria.i told my mom this and she said we are gonna plan to get it in a few years,might be wrong idk.
I work in a central bank in the Eurozone. For an outsider it is probably unthinkable how well organized, democratic, fair, respectful and analytic the cooperation in the Eurozone is. I have worked in 4 central banks altogether including the Bank of England. But there is nothing like the Eurosystem. For sure. 👍👍👍
Cheap propaganda.
P.H. Yes OK, But It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
Interesting. Thank you for sharing your perspective.
@@chrislambert9435 lol. If you think sovereignty is defined by currency, you have an incredible poor grasp of both economics and law.
@@RobespierreThePoof LoL if you think having your own national currency is nothing to do with fiscal Sovereignty. Well you really know nothing, what a Pigmy
Tesla on the 50 cent is just the best. Thank you croatia
Funny to see the Island in the Center. Where the CHF has gained value by much more than 10%, even with negative Interest. And still only 3% Inflation.
Be welcome😊😊😊
By the way, just saying that euro coins of croatia are lovely ✅ my fav is the 1 euro, thr kuna, this is so cute
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
1:18, the map shows the Vatican in Naples and San Marino in the Adriatic sea, not a big deal but my autistic brain has to point it out
First i thought thats not real, but when i looked it up somewhy its accualy in the wrong locations.
Again its not that bad like i glanced over it at first so it doesent devalue the video.
I actually looked up the location to be sure. I think it slightly moved around while editing . Meh - sorry about that. I will make a sticky post later . Thanks for pointing it out
@@EUMadeSimple Don't worry about it, I'm just being overly pedantic, love your videos
Does that mean that converting to euro the Wages in the Set country will get Higher or just be calculated at the countries normal exchange rate that is if you get 1000lv and the euro is accepted it will become 500 euro or 1000 euro?
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
Changing currencies won't change the value of your work. 1000BGN salary will become 500EUR. And we HOPE the prices will do the same.
@@electricspeedkiller8950 as long as there is control over the prices
Where did you get the information about the public support?
More than 70% of bulgarians don't want the euro yet.
Bulgaria will join the Eurozone. For the other countries you mentioned, none will adhere to the Eurozone until 2030 at least.
The public debt of Croatia is ~74% ofGDP, not below 60. They don't meet that criterion, but since the eurozone needs peripheral economies to pay off the public debt of countries such as Italy, Croatia is allowed to join. The eurozone nowadays looks more like a ponzi scheme than a proper moentary union.
It went down until Covid 2-3% per year. It would be very close to 60% without covid. Also it is clear that you don't know much about Croatia. € is already our second currency, we buy, sell and save money in it for years so no big deal there...
and now is 62%, it was only temporary above 70% because of covid and 2 major earthquake in the 2 cities ( capital Zagreb and Petrinja very old city) in Croatia. So with covid, earthquake and aggression in Ukraine Cro is still above many countries!
As mentioned in other comments, the figure for public support for the Euro in Poland seems too high. The latest poll from this january mentions 64% against.
I would firmly rank Romania third after Bulgaria (second by now, after Croatia joined). The national politicians will do what the voters want. If they are in favour of joining the euro, it will happen eventually.
Since this comment, the Eurobarometer survey came out for spring 2023. 55% expressed support for joining the euro there. Whether or not Donald Tusk will be able to deliver on entering Poland into the Eurozone is another issue though.
For Romania, after the adherence to the EU, the original plan was to adopt euro by 2012. Was but the crisis came and everything was forgotten. After 2012 nobody from politics or the national bank hasn't proposed a clear plan to adopt euro. Everybody speaks about it yet no one does anything because once you switch to the euro currency, all the games with public deficit/debt, stupid political financial policies are done. And they don't want it...
So, unless a strong government comes to power and decide to take some action, you won't see euro happening too soon in Romania.
I think that just as the ECB closed its eyes to the non-fulfillment of one of the criteria for Croatia (deficit over 60%), it will also close its eyes to the Bulgarian inflation criterion.
you are wrong. state debt not deficit.
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
Croatia is eurized on so many levels, for so many years allready. It is our domestic currency, we are sourranded by eurozone Austria, Italy, Slovenia..
I believe Romania is more likely to join the eurozone sooner than Hungary, Poland or the Czech Republic.
Most of the Bulgarians don't want to join this ponze scheme!
As a Pole no thanks for the Euro
When country jone to Euro zone always the price jump high
Was like this in Portugal, Lituania, Slovakia...
During ww2:
- Croats forced Jewish and Serbian children to eat bread mixed with glass, in Croatian children concentration camps......
During the 1990s:
- serbs rpd over 50.000 croatian and bosniak children and mtltd there gntls in front of there parents
why they want join sinking ship is beyond my logic
blyatiful, It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
Sinking ship is Russia...
Croatia 🇭🇷 is my plan to work next year but I hope couldn't change the currency to make as member in European Union 🇪🇺 to used Single Currency which is Euro 💶. It's not the solution to change as Euro 💶 if the price will be rise up by the Quality of Life is not the time for that maybe the price will be rise up in Supermarket and become expensive. €1.00 equivalent to 7.53kn, Croatian Kina then cheap prices than Germany 🇩🇪, Finland 🇫🇮, Italy, France 🇨🇵 and Belgium 🇧🇪. Higher prices
Denmark is weird since it's currency is tied to the value of Euro so there is no real benefit of not adopting the Euro.
I hope we (Bulgaria) somehow manage to adopt the Euro by 2024.
Buuuu да ти пикая на пп предателя или герб мутро buuu bulgaria out of euro
We want it the most, yet we meet 0/4 criteria.
That's how everything happens here 🤣
_(We still scared of what happened to Italy when they adopted Euro, though)_
Edit: I must clarify that by "we want it" I mean the statistics. I'm pretty sure people don't want it at all.
No we don't want the euro, we want to keep our Lion
Haha I love this. We Bulgarians are patriotic towards our Lev, and I've always had a culture clash when I see other countries wanting to give up their currency
@@piatra1277 agree. By "we want it" I meant what statistics show...but I'm pretty sure we don't really want it at all
@@InfopeAlese yes we want it kid as bulgarian who knows many people they say they want the lev
I wouldn’t agree with the statistics presented here. The latest survey showed that over 65% of Poles are against introducing euro…
Worth to mention how eurozone contries fulfill criterias.
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
The countries in your list who can adopt…don’t want to adopt…the countries who can’t (regarding the criteria) want to adopt the most, like Romania…what is this telling us? 😂 Keeping all the options open!
Slydude, It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
@@chrislambert9435 Not at all.
As bulgarian and bulgarian who knows denmark yes thats True we dont want euro its scam for us 👎👎👎 we are fighiting now so we dont enter the euro money
@@alexaxy3328of course it is... You have to communicate about your monetary policy with others... A national currency lets you do more free changes
I like how stubborn we (Czechs) are about our currency. It's way prittier than Euro anyway. It's got out own national heroes on it, not some arbitraty symbols we have no connection to. Hope we'll maintain our Crowns for as long as possible.
Úplně souhlas ! Koruna je nejhezčí
The money has nothing to do with national pride. Your national heroes can be on Euro coins and paper money too.
Adding national heroes to the money is double edged becasue with the same money ppl buy drugs, take corrupt money etc. Pls add them to the wallpaper of your phone and enjoy them fully xDDDD
@@ixirion The Czech heroes were not saints. Even fame has its downsides. ;) But we will not let our own beautiful crown, with its safety features and its beautiful paintings by Oldřich Kulhánek, be taken away from us because of such a small thing that it can be abused by some people.
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
Switzerland: can I join now?
regardless, I live in Romania I get paid in euro, my bank account is in euro and when I spend it just converges to RON but seems stable around 4.7-5 Ron = 1 euro for more than 3 years.
Bulgaria will have a economic crisis like greece had in 2010 if they join Eurozone
100%
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
No chance. Bulgaria has 25% debt to GDP, Greece had 250%.
@@mateyp3365 And you think that Bulgaria will be better with Euro. I dont think so. Look how many bulgarians are leaving the country cause Destroyed houses,Streets and Abandoned Villaged
@@docuziulian8892 Bulgaria has been for the last 25 years in a currency board with the euro, so we don't have an independent currency as it is. Real estate is already being bought and sold in euros. Most of Bulgaria's business is done with EU countries, it'll be much better to eliminate the exchanging of money. The inflation is lower in the eurozone too.
The villages, that's due to a whole lot of factors, none of which will be worsened by the euro. Don't forget we're in our present situation without it.
I assume you're Romanian, and your situation is different to ours- you have a lot more fiscal freedom, and with it more risk. If Bulgarian institutions had it, we'd have gotten 1997 repeated again and again:)
As a Bulgarian, I strongly refuse to enter the Eurozone, especially without any form of referendum. Nobody asked the citizens if we want it or not, some politicians decided it and that's it (same goes for EU accession and NATO). We seem to be following Greece' example and no one seems to explain, since ppl in power are greedy and only interested in personal gain. It will be a disaster. We don't have a functional government for the past 1 year and expecting 3rd round of elections in March, 2023. Last turnaround was less than 40% of voter activity....the country is dying and has already been sold and divided by greater powers in play.
Go to the streets or stay silent forever
Sounds like you need some help. From Brussels.
Delusional, except for not having a government everyrhing else is fine
@@MrTekeshi we went to the streets, Ministry of internal affairs beat up people like it was war, stil the prosecution can't figure it out.....all thats left is to light the country on fire...but ppl will die!
@@dreci3001good from Romania
Hate that garbage Bulgaria and The rest of Europe
EURO'S economies are to manufacture, sort, placed through Inventories in its respective standards of excellence in administration, particularly Businesses, Education, Health, Finance Administration, Health, Engineering Services, Science and Technology, Farming and Agriculture. Looking forward for a reconciled, trial balanced expertise in the said practices/work.
Wish my country was smart enough to sabotage the eurozone like sweeden :(
Everything went to hell after Euro.
I really hope for the balkan-eastern nations to NOT join Euro, like EVER.
it's a ridiculusly enormous mistake.
Bulgaria will be accepted to the Eurozone from Jan 2024 due to political reasons, just like in 2007 when we joined the EU. The same goes for the Schengen zone. Of course, this has nothing to do with any achievements whatsoever and is a solely political decision.
FPV, It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
It's a seal on a country. Leaving the EU is relatively easy. Leaving the Eurozone, not so much. Entering it, means agreement to remain part of the EU indefinately. Also we do have some achievements. Our infaltion rate has been a percent higher than it should have been but otherwise the sectors in the economy are improving, with the fastest growing industrial sector by far for example.
@@chrislambert9435 I don't see anything wrong with this. If the economy within EU states as well as income and tax evens out, this will be the best thing ever.
@@FPV420. OK, then go ahead and hand over your Sovereignty and your ability to protect your National Interest
Montenegro 🇲🇪🇲🇪🇲🇪
Not a member of the Eurozone.
Is this Nikola Tesla on one of the HR euro coins?
Yes
Be ready for price jump after get euro
Let's all hope at least in this decade at least of the countries mention will adopt the Euro soon although times nowadays are uncertain and very tough.
As a Romanian , I want to go outside my country for a vacation , and with the euro I don't need to worry about currency exchange
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
@@chrislambert9435 Right! And that's why most people in Bulgaria still don't want the euro
I think longer term, more and more countries are going to continue to join the Euro because of stability and economic sense, I also think longer term that power in the EU is going to shift in favour of Euro Zone countries, something it's kinda already doing but that's going to be more the case in the future as more countries join it and none Euro countries become more isolated.
Also, from a business investment point of view, I suspect most would rather invest in Euro countries because they don't have to worry about currency fluctuations unless they have their own currency pegged to the Euro which kinda reduces a lot of the flexibility those countries have if it's pegged, after all, think about it, if a product is being manufactured in a Euro Zone country with the aim at selling to EU consumers, those businesses don't have to worry about currency fluctuations in those Euro countries and that creates price stability, in other words, Euro Zone countries are always likely going to get more inroad's investment over none Euro countries, more so as those eastern EU members modernize and become richer, because they won't have the advantage of cheap labour any more.
Still, with I think the video said 20 countries being in the Euro out of 27, it's by far the most dominant when it comes to balance of power and I think that's why others will join in time, even the ones that don't want because the alternative is that they get more isolated in the union.
Paul, WoW what deception, It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
I'm not sure if I want euro or not, as I've grown up with lev.
Although the political situation in Bulgaria is far from ideal there has always been a pro-Euro majority and this doesn't look like it is going to change.
Ironic? Bulgaria has been patriotic to our Lev - few want to give it up
@@cerebrummaximus3762 bullshit
@@prenti1205 how?
But still, there are no punishing mechanisms for EU-countries who are not a part of Eurozone. Yeah, they're "obliged", but EU doesn't seem to care about it much.
I hope that when Ukraine joins EU, it won't abandon hryvnia (because I like our currency, banknotes and coins are beautiful imo and it does quite a good job of representing our country, but if we join Eurozone, we won't be as recognisable anymore). But I don't think that EU will give Ukraine an opt-out, like it did with Denmark
Ukraine joining EU is so far away, that joining Eurozone and changing currencies should be the least of your concerns atm...
Nothing against Ukraine but as a journalism student and history and geography nerd im 1000% sure its not joining before 2035. Pretty sure Montenegro, Albania and probably Serbia are joining earlier, probably even Georgia. With current problems i think even Montenegro which is the fastest joining will not join before 2028+-.
@@saxer4o yeah, I know there's still a long way to go. This thought just popped up in my mind 🤷♂️
@@Aggoenix yeah, we still have a long way to go 🤷♂️
The soonest you could join the eurozone is 2050. Don't worry about it for now
With all those exempts, to have to love how the eu sticks to is own rules.
As albanian I prefer to use our own currency, lek, which has the same value of euro. In Italy the introduction of euro is still nowadays very criticized.
I'm from Poland and i can assure you that we don't want euro here, at least for now.
Don’t speak for everyone. I, for one, want the euro and I’m as Polish as you. 😊
As a Bulgarian I can only hope that we don't adopt the Euro any time soon. Once the normal citizen has enough money to more than survive - sure, but right now if you research the popular salary (not average, don't let stats fool you since to calculate the average you take in the absurdly high income of 5% of the population to raise the number of the humiliating salaries of the other 95% and deceive you that we're better than we are) to cost of living ration you'd understand. We're just not practically ready yet. That transition will be welcome once we first solve our interior issues. But until then it would be almost equivalent to suicide.
It is really proven by this Video, that the EU is a Federal Project, and that the Member Nation States are required to hand over Sovereignty, because handing over control of your National Currency is the same as handing over Sovereignty
Thats never going to happen
I don't get Romania, even though I live here. Everything from rent, real estate, new cars, used cars to your cellphone bill are quoted in Euros. Even some laws contain Euro figures like amounts your company turns over or makes to determine your tax rate. We still don't get our salaries in Euros, and each one of us takes the not so eventual exchange rate hits...
Croatia prices will go very high as before with countries joining Euro zone. As Lithuania quadrupled prices creating poverty.
Coś ci się pojebało, koleś🙃
Already there my friend :)
Well no, 4 months with euro and prices are the same and it went even down cuz inflation is going down finally.
It is not true that 45% of swedes are in favor of joining. Latest poll from May (coming a new one in December) gave about 23% in favour of joining, 58% not in favour, and the rest unsure. I hope Sweden will never join the flawed montary union.
il faut rejoindre les BRICS .
@@alainbroquet1472 Skriv på engelska nästa gång så blir det lättare att kommunicera.