The Bulgarian Socialist Party will request a hearing in Parliament of Bulgarian PM Boyko Borisov regarding the cabinet's position on the negotiated EU fiscal pact.

The move was announced by PES and opposition Bulgarian Socialist Party chair Sergey Stanishev Tuesday.

Bulgarian MPs had requested a cabinet hearing in Parliament ahead of the December 2011 European Council to question PM and ministers on Bulgaria's position, but to no avail.

According to the Statute of the Bulgarian Parliament (art.113(2)), Parliament can request a hearing of the PM regarding Bulgaria's position in upcoming European Councils.

At the December 2011 Council, Bulgaria was among the EU member states who agreed to sign an agreement for a deeper economic and fiscal union to ward off the financial crisis that has gripped the union.

Among the provisions in the future treaty, which is yet to be fleshed out, is a wide-scale harmonization of financial policies of member states, something which the UK has adamantly opposed.

In their first meeting for 2012, German Chancellor Angela Merkel and French President Nicolas Sarkozy stated that they would want EU members to sign the treaty before March 30, and the matter will be discussed at the European Council January 30.

"The Socialist Party considers that Bulgaria's position on the treaty has not been clarified, and its commitment to the European Stability Mechanism has been questionable," said leader Stanishev.

He stressed that the Bulgarian Parliament has the right to hear the cabinet's argued position on this important policy, and to question PM Borisov on it.

PES and BSP leader Stanishev has said that the European and Bulgarian socialists back the moves for greater fiscal stability in Europe, but also view it as mandatory for a coherent and comprehensive stimulus plan to be implemented, if the continent is to emerge from the crisis.