Bulgaria's Place Unquestionably inside Eurozone - FinMin
Bulgaria's place is unquestionably inside the single currency and it could potentially join the eurozone within five years, the finance minister has said.
Bulgaria has frozen its application to be part of the euro, but Minister Simeon Djankov told The Times it was conceivable that it could join within five years if the currency area made further progress.
Europe's proposed Banking Union is the main topic of the interview and Bulgaria's Deputy Prime Minister argues all members must be granted equal voting status to avoid creating distortions in the financial sector.
According to Minister Djankov the voices of non-euro members such as Bulgaria needed to be properly represented within the mooted single bank supervisor to be located at the European Central Bank.
A natural consequence would be that non-euro members of the Banking Union should also gain access to the region's bailout fund during banking crises, he said.
MORE READ HERE
- » Bulgaria Adopts 2015 Budget with 3% Deficit
- » Fitch Maintains Bulgaria’s Credit Rating At ‘BBB-‘ With Stable Outlook
- » Government to Discuss New Bank Law
- » USD 25 B in Illicit Flows Syphoned Off from Bulgaria in 10 Years
- » Drop in Fuel Prices Results in Deflation in Bulgaria
- » FinMin Repays Municipalities' Funds Blocked in Corpbank