Leader of the Bulgarian Socialist Party Sergey Stanishev described his election to chair the Party of European Socialists as a tribute to Bulgarian socialist citizens upon returning to Sofia.

Friday Stanishev was unanimously voted to temporarily lead PES until the election of the next regular president in November 2012.

The Bulgarian ex-PM (2005-9) is the first Eastern European to sit at the helm of the European Socialists.

In an emotional speech at the PES convention Sunday, Stanishev vowed to work for social justice in Europe and the democratic authority of European citizens.

"We must turn PES, which now is the second-largest European political family, into the largest European-level party," said the socialist leader at a press conference later after his return to Bulgaria.

"PES has a clear vision and we now need to convince European citizens that it is much more efficient and just than the rightist consensus ruling the continent," stated he.

Stanishev argued that a policy of austerity is inadequate to tackle the financial crisis, and while a good fiscal discipline is necessary, nothing can be achieved without stimulating the economy and creating jobs.

"Bowing down to market pressures and just cutting down spending threatens to erode the very basis of our societies, and the very democratic values on which they are built," stated the socialist leader.

Regarding the situation in Bulgaria, Stanishev vowed to continue pressure against the center-right cabinet of Bulgarian PM Boyko Borisov and oppose what he sees as an incompetent and damaging austerity policy.

Stanishev said that the Bulgarian Socialist Party will join protests of trade unions against the cuts of social benefits included in the state budget for 2012.

Earlier Sunday Stanishev also commented that he believes he can use his PES presidency to increase the influence Bulgaria has in EU affairs.

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