EUObserver: Bulgaria Eyes Greek Crisis Warily

Views on BG | July 1, 2015, Wednesday // 07:56
Bulgaria: EUObserver: Bulgaria Eyes Greek Crisis Warily Photo by BGNES

Bulgaria is watching the crisis in neighboring Greece "through wary eyes," Brussels-based EUObserver writes.

It reports about the government's position after Athens announced a bank holiday this week, which reads that the Greek banks' branches are established under Bulgarian law and no money can be transferred from them out of the country without a permission from the central bank.

The opinions of two experts are presented here, both arguing the developments in Greece will no affect the Bulgarian economy.

Georgi Angelov, chief economist at Open Society Foundation in Sofia, is quoted as saying that, though there shouldn't be any concerns about possible contagion, Bulgaria has lost Greece as an important export market and a leading foreign investor due to the crisis.

Earlier PM Boyko Borisov said there was "no reason to rush with the [Eurozone] membership" before countries from the single currency area have gained self-discipline.

He added he didn't "see a logic" in the fact that Bulgaria would have to give money to Greece if it were in the Eurozone, since Bulgaria was poorer than its southern neighbor.

You can read the full text here.

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Tags: Eurozone, Boyko Borisov, greece, crisis, Greek, banks, Georgi Angelov
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