[bpizzi]

Bulgaria has already pegged its currency (the lev) to the euro through a currency board since 1997. This means it already lacks independent monetary policy, and joining the euro wouldn’t significantly change that. The exchange rate is fixed, and inflation differentials are already impacting competitiveness.

Moreover, Bulgaria does not directly compete with Germany in the same product categories. Bulgaria is integrated into supply chains, often providing components or assembly work for German companies.

You are only 7M. I’ve got the feeling that it is just not large enough to significantly be distorted by eurozone monetary policy, at least in the way that might affect much larger economies.