Belgium Pushes for Full Schengen Integration of Bulgaria and Romania
The Belgian Presidency of the EU is spearheading efforts to fully integrate Bulgaria and Romania into the Schengen area
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Bulgaria's capital Sofia credit rating will also be downgraded to “junk”, said the deputy mayor in budget and finances Doncho Barbalov, quoted by Dnevnik.bg.
The reason is the downgrading of Bulgaria's sovereign credit rating from BBB-/A-3 to BB+ from BBB- with a stable outlook by the Standard & Poor's on Friday.
“There is no way that a city has a higher credit rating than the country it is in, no matter how well it performs financially,” Barbalov said. “This happens for the second time this year after Bulgaria's rating was cut from “stable” to “negative”.”
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