Bulgaria's Eurozone Aspirations: Fitch Ratings Affirms Positive Outlook
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
"The Bulgarian economy is stable, it should not be difficult for Bulgaria to enter the Eurozone waiting room, but after you are inside, it takes three years for the euro to come into practice." This was stated in an interview with BNT by the European Commission Vice-President, responsible for the euro and social dialogue, Valdis Dombrovskis. This week he is expected to present the long-awaited eurozone reform package.
"We are currently working on this to complete the economic and monetary union and we will present the package of measures on December 6. The main idea is to make the eurozone stable and sustainable against potential future economic shocks.We must also restart the process of convergence within the Union. "We are starting a series of initiatives, such as creating a separate eurozone budget line within the European budget to ensure fiscal stability, "Dombrovskis explained.
He added that it is planned to create a pre-accession instrument to help Member States seriously working to introduce the euro. There are also initiatives to finalize the Banking Union and the Union of Capital Markets. "We will also strengthen the role of the European Stability Mechanism, which will become a European Monetary Fund," said the Deputy Chairman of the European Commission.
According to him, when the euro is introduced, Bulgaria can expect serious support - above all technical assistance, but financial support can also be expected. But he added that it is not just money or at least money is not on the first place.
"We look forward to Bulgaria taking over the presidency of the Council of the European Union, and the Bulgarian government was already here for a meeting with the European Commissioners." We had the opportunity to discuss the priorities of the Bulgarian Presidency, and I would say that they fully meet the the economic priorities of the European Commission I look forward to serious work on structural reforms and a series of legislative proposals related to the Banking Union and the Capital Markets Union . But, of course, there are many other areas where the Bulgarian presidency will have to be very active. "
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Amid escalating tensions and a renewed Russian offensive, the United States is poised to deliver much-needed military aid to Ukraine following prolonged delays and uncertainties, signaling a crucial lifeline for the embattled nation in its struggle agains
Yesterday, Acting Prime Minister Dimitar Glavchev proposed to President Rumen Radev to relieve the Acting Minister of Agriculture Kiril Vatev from his post and to appoint Georgi Takhov as head of the department, the government information service reported
As the Russo-Ukrainian war enters its third year, there is considerable anticipation across Europe for its resolution, given the substantial human and material toll on both sides
Ecuador has officially abandoned its plans to send Soviet-style weapons to the United States, which were intended for transfer to Ukraine, citing its stance on international armed conflicts
Amidst the geopolitical repercussions of ongoing war in Ukraine, the Eurasian connectivity is again in focus
Barely two weeks into 2024, tensions on the Korean Peninsula are rapidly escalating, as IFIMES Institute was periodically writing
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022