European Commission experts have warned that Bulgaria is one of the 24 country members that still haven't implemented the directive for markets of financial instruments in its laws and this may lead to sanctions.

This is one of the most important EU directives, the state radio announced. It aims at making payments within the Union easier, guaranteeing the protection in investments, and increasing competition on the market.

Banks and companies may face serious difficulties in the countries where the directive still hasn't been implemented, the EC explained. The finance ministers of all 24 countries have been warned in a letter that they have to introduce changes in the law as soon as possible.

Bulgaria's Finance Ministry announced that the directive was only partly implemented and that a project law for its full implementation has already been accepted. The government nodded the project in April of 2006 and introduced it to Parliament. It should be passed as soon as possible, the ministry explained.

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