Tomislav Donchev: Bulgaria may be elsewhere in Europe if it joins the Eurozone

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Mr. Donchev, in the election program of GERB appears Bulgaria's accession to the Union bank. KTB provoke you this priority of the party? 


Undoubtedly, the idea of joining to a bank Union was inspired by the drama of the KTB. Our joining means reducing the powers of the Central Bank and the special regulatory functions will be transferred to the European Central Bank. It has to realize that this is a new mechanism that is yet to enter Europe, applied for the first time, it means - we will be one of the pioneers. 

Such a step has several advantages, firstly - it is a safe control system which is used with great confidence, given the authority who made the ECB during the crisis, secondly - it means a confidence of all investors in the banking sector in Bulgaria, third - such step is followed by convergence towards the Euro area. 

Is Bulgaria ready to join the Euro and how it would affect the country? 

To restart the initiative to adopt the Euro in Bulgaria must be solved all dramas with Budget 2014 because given everything that happened last year and piles “created” outrages, the internal budget deficit of the country in just one year has the status of a shame. The fighting is the deficit to be up to acceptable values because this is a requirement for an admission to the Eurozone. The acceptance is presented as a priority from our program in 2009, but then failed to happen given all the crisis hit. That is not repeated in subsequent versions of the programs in 2013 and 2014 does not mean it is discharged as a priority. It is time to realize that, this is a slow process, which is entirely political decision. If Bulgaria broadcast good signals then it can take the next steps. I think this is a desired future condition that would put Bulgaria in another place on the map of Europe. State which has adopted the Euro in principle be used by all defense mechanisms of the Eurozone in terms of public finances, banking sector and that is a trademark and a sure guarantee that Bulgaria is a good place for investment. So this is the way forward and lateral directions it will no.


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