Fixed exchange-rate system

Bulgaria's Economy Minister has voiced his disagreement with the idea that joining the Eurozone will be a "catastrophe" for the country.

The comment was made by Prof Steve Hanke, a professor of Applied Economics at Johns Hopkins University in Baltimore, known in Bulgaria as the "father of the currency board".

Europe will be much better off without Greece and the best thing for the country is to introduce a currency board system, a leading economics professor said on Monday.