Suchergebnisse

This article was invited from the author in response to the June 2022 Bruegel.com blog post by Zsolt Darvas – and see the separate article in this issue – about the decision to let Croatia into the euro area while keeping Bulgaria out; and intended to elicit a view from Bulgaria. The author believes that Darvas is essentially right in his approach; and that, furthermore, the applications of Croatia and Bulgaria for entry to the euro area are a perfect example of why the whole framework needs a thorough re-consideration. The founding fathers of the euro area constructed it on the basis of fundamental principles of macroeconomic stability and the equal treatment of applicants. Consequently, most of the criteria for adopting the euro, the so-called Maastricht criteria, have numerical expressions: clear and transparent criteria do not open any room for interpretations and compromises with macroeconomic stability. In the last decade, however, the author argues that the flexible interpretation of these criteria has led to changes making the accession process more discretionary and euro area membership less attractive.

The international trade of the African Regional Communities has been in the focus of multilateral political debates for a long time, but has not been noticed by the researchers yet. A lot of literary works were dedicated to the subject of regional integration in many regions and in plenty of historical examples, but we should agree, that the African integration is quite complex and specific. Therefore, we have to go through the lessons, suggested by the theories in order to answer the question: Does the conventional theory matter, when it comes to the integration of African Regional Economic Communities (RECs)? This is exactly what makes the book "International Trade of African Regional Economic Communities"1 by Eduard Marinov, PhD (Economic Research Institute at BAS) highly topical. Moreover, this is the first study of these issues conducted by a Bulgarian researcher over the last decades.

article aims at synthesizing the main features of Bulgarian enterprises which trade with Sub-Saharan Africa, as well as of those who are interested in the region. The current state of Bulgaria's trade's relations with countries from that part of the world is outlined. Based on a representative survey of 1000 Bulgarian companies, the expectations of Bulgarian businesses towards these relations are investigated. Some general characteristics of the respondents are highlighted, analyzing the structure and attitudes of Bulgarian companies engaged or expressing interest in trade with Sub-Saharan Africa. The article examines the opinion of Bulgarian enterprises on the reasons why Bulgaria has lost its influence and traditional trade partners in the region.