Romania Struggles with Rising Debt, Eurozone Entry in Jeopardy
Romania's public debt is nearing the critical threshold of 60% of GDP, as outlined by the Maastricht criteria, further distancing the country from its goal of adopting the euro
Bulgarian Party "Vazrazhdane" expressed concerns about the Legislation that is prepared for the Eurozone
Politics | May 11, 2023, Thursday // 11:48
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MPs from "Vazrazhdane"
"Vazrazhdane" (Revival) expressed serious concerns regarding the legislation that the Bulgarian caretaker government is preparing for Bulgaria's entry into the Eurozone. MP Deyan Nikolov explained that some of the amendments are related to the Bulgarian National Bank (BNB) and through them the central bank becomes more independent.
"The governor of the Bulgarian National Bank will be completely independent and will become, in practice, an official of the European Central Bank according to what is provided for in the law. That is, Bulgaria will have absolutely no control. We will not have the right to vote. This person, even pro forma, he will largely not protect Bulgaria's interests, and will be obliged to vote and make decisions that are the most optimal and appropriate for the entire Eurozone."
Nikolov defined these actions as inadmissible at a time when the procedure for holding a referendum on the subject is underway.
The party insists on meetings with Finance Minister Rositsa Velkova and BNB Governor Dimitar Radev, at which they will insist that any actions related to Bulgaria's entry into the Eurozone be stopped.
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