4 ms·
Just as the Mark and the Franc were.
by dotancohen 1y ago
Just as the Mark and the Franc were.
- bapak 1y agoI don’t think those two are comparable economies to Bulgaria 20 years ago.
- dotancohen 1y agoThinking about it, the comparison really isn't that bad. West Germany had just reunited with the East, and France was definitely on a similar upward trajectory as Bulgaria is today.
- bapak 1y agoWhen the EU was formed, its members' economies were comparable. The lev was pegged to the euro in 1999, Bulgaria was roughly 80% poorer than the EU leaders (I'm using PPP figures from ChatGPT to make these comparisons, I don't know if I'm making any sense)
- dotancohen 1y agoThat supports my argument.
- aopwiejfpoieajf 1y agoSurely they were not pegged for decades given that the Euro was introduced in 1998 and they transitioned fully in 2002?
- blahedo 1y agoIt was pegged originally to the Deutschmark. If you look up a currency table the historic DEM has the exact same conversion rate as the lev will have.