Bulgarian EU Commissioner Rules out Nationalization

Bulgaria has some reserve to increase its State debt as a way to boost the economy, according to Bulgaria's EU Commissioner, Kristalina Georgieva.

Speaking Friday for the Bulgarian National Radio, BNR, she, however, noted the above should be done very cautiously, with previously set goals.

Georgieva pointed out some of the demands of protesting Bulgarians such as more control on monopolies and more efficient social system, were just, while others, for example nationalizing private businesses, beared serious risks.

The Commissioner voiced her firm belief at the end, the energy of the protest rallies would lead to positive changes in the country.

She also stated she fully trusted President, Rosen Plevneliev, in his ability to deal successfully with the political crisis shaking the country.

"I fully trust the Office of the President in cautiously separating the possible demands from the impossible ones for the wellbeing of the country – what can be done short term, and what can a new Parliament and government do," Georgieva concluded.

On February 21, the Parliament approved the shocking resignation of Prime Minister, Boyko Borisov, and his center-right party Citizens for European Development of Bulgaria, GERB, amidst unprecedented since 1997 protest rallies against extensive utility bills, poverty, monopolies, which grew to a civil unrest against the political model of ruling the country.