The paper generalizes benefits and costs of potential official euroisation of Bulgarian economy in the process of accession to European Union and European Monetary Union. Since Bulgarian has a currency board the paper emphasizes on the comparison of current monetary regime and official...

In 1996/1997 Bulgaria was hit by a severe financial crisis, spreading from a banking crisis to a currency crisis. While being widely neglected by the financial crisis literature and the international discussion we argue that the Bulgarian Financial Crisis might serve as an illustrative example...