wider opportunities will be afforded for further development and growth. then, however, we will face new important challenges 1 / 2 bis - central bankers'speeches and it will be up to us to cope with them and take full advantage of the opportunities presented to improve society's well - being. the adoption of the euro as the national currency will be a crucial point in the economic history of bulgaria. before us is the choice to work together for a better future not only for us, but also for the next generations. bulgaria's integration into the euro area means that its monetary policy will be identical to that of all other countries sharing a common currency. thus, the importance of sound fiscal policy for maintaining economic stability will increase even further. also, priority should be given to structural reforms, which should be aimed at increasing productivity and improving our international competitiveness, and hence our standard of living. the scale of success, on the other hand, always depends on our choices. the advantages that the adoption of the euro gives us must be used to the maximum. today, the bulgarian credit institutions are among the best capitalised in the european union ; they can boast of efficient operations and competitive profitability, which contributes to their ability to withstand serious economic and financial shocks. on the other hand, bulgaria's participation in the banking union provides us with an additional toolkit necessary to prevent possible future shocks in the financial sector. this way, the supervisory reflex and proactive sensitivity needed to spot the risks arising'from below'will be built up. the transposition of the european supervisory framework has led to strict capital and liquidity requirements, an entirely new macro - prudential setup that effectively regulates excessive risk - taking and creates resilience and stability in the system so that it can cope with potential consequences, while remaining highly capitalised and profitable at an aggregated level. but let's also look at mutual successes. our preparation for the adoption of the euro has been going through the effective dialogue between the regulator and the businesses for the adaptation of the relevant legislation, the mandatory dual display of prices in bgn and eur, the adjustment of it systems, the reconfiguration of atms and pos terminals, etc. another success factor will be a good communication strategy regarding the adoption of the euro, based on the joint efforts of the public and private sectors, which will lead to strong public support, so that the positive expectations of society are met. thank you for your attention

we will continue to talk about. the payment services in bulgaria are evolving in line with the dynamic processes in europe, gathered around digitalisation, new technologies, and the ensured security of the payment process. 1 contactless payments on consumer off - the - shelf devices ( cots ) and software based pin entry on cots 2 payment card industry security standards council ( pci ssc ) 3 commission delegated regulation ( eu ) 2018 / 389 of 27 november 2017 supplementing directive ( eu ) 2015 / 2366 of the european parliament and of the council with regard to regulatory technical standards for strong customer authentication and common and secure open standards of communication ( rts on sca and csc ) 4 www. eba. europa. eu / regulation - and - policy / payment - services - and - electronic - money / eba - working - group - on - apis - under - psd2 5 opinion of the european banking authority on obstacles under article 32 ( 3 ) of the rts on sca and csc 6 www. eba. europa. eu / single - rule - book - qa 3 / 3 bis central bankers'speeches