Europe is to remain a global power and will enter in a new phase of deeper integration, said Bulgarian President Rosen Plevneliev in a video interview for The Wall Street Journal Thursday.

Plevneliev was resolute that Bulgaria will join the eurozone in the long term, but it will first monitor developments within the single currency area.

"We want to see a clear and politically motivated plan and responsible policies to execute that plan," explained the Bulgarian President.

"I am sure that within one year or a year and a half the eurozone will master its problems and will be once again on the right track," added he.

The Bulgarian President suggested that EU member states should work to synchronize their financial and social security policies in order to maintain a sense of justice when European institutions intervene to help countries experiencing fiscal hardship.

On another note, Plevneliev stressed that Bulgaria hopes to make its business climate even more attractive to foreign investors with a new law in the field expected to be adopted in 2013.

The draft legislation previews less hurdles and even more advantages afforded by the state to attract foreign investors.

Plevneliev was resolute that he will be working hard at fulfilling his pre-election promises, and not so much thinking about re-election during his term as president 2012-17.