Business Leaders Are United on the Benefits of Euro Adoption
Anton Panayotov, founder and CEO of Alaric Securities, and Chairman of the Bulgarian Business Leaders Forum on “Business Start”, Bloomberg TV Bulgaria
The Bulgarian Business Leaders Forum (BBLF) is a remarkable organization, established in 2002 under the patronage of King Charles III. One of its core missions is to promote responsible corporate governance. The forum has over 150 member companies, representing 20% of Bulgaria’s GDP. These include both large corporations and small family-owned businesses. This was stated by Anton Panayotov, Chairman of the Bulgarian Business Leaders Forum, during Bloomberg TV Bulgaria’s show “Business Start,” hosted by Hristo Nikolov.
Attracting Talent to Sustain Bulgaria’s Growth
According to Panayotov, positive initiatives by Bulgarian companies often go unnoticed by the media. That’s precisely why the BBLF presents annual awards for social responsibility — to encourage and recognize these efforts. He emphasized that both people and employees truly appreciate such local-level changes.
Panayotov noted that Bulgaria remains a conservative country in many respects. While this helps shield it from upheaval, it also hampers faster development. The country has been in a long transitional period, creating a divide between generations raised in Bulgaria and those who studied and worked in Western Europe.
He stressed that the government must develop policies that encourage more people to come and work in Bulgaria. For instance, the traditions and reputation Bulgaria holds in the field of medicine could serve as a strategic asset. “To make Bulgaria a better place, we must tackle the issue of population decline. Business must also address this challenge,” Panayotov explained.
The wage gap between Bulgaria and Western Europe is narrowing. Meanwhile, the Bulgarian diaspora has developed excellent work habits. “This presents a great opportunity for Bulgarian companies to attract external talent who are committed and contribute to greater efficiency,” he added.
Eurozone Integration and Economic Outlook
“In my view, the decision on adopting the euro is already settled. It’s fantastic that we’ve reached the point where Bulgaria is ready to join the eurozone. Spreading fear is not socially responsible. We are all patriots, but we must honestly assess whether we can afford to maintain an independent national currency. For decades now, the answer has been no.”
“There is clear consensus within the BBLF that the benefits of the euro for Bulgaria far outweigh any potential drawbacks. Every step toward closer integration with Europe helps reduce inequality,” Panayotov concluded.
See the full commentary in the video.
Source: BloombergTV Bulgaria