Merkel: Pay Attention to Bulgaria's Contribution to Euro Stability!

Мerkel has recognized Bulgaria's role for boosting the stability of the euro zone. Photo by EPA/BGNES

German Chancellor Angela Merkel has recognized Bulgaria's role in helping the stability of the euro as a common European currency.

In her speech before the German Bundestag, in which she proposed a new euro fiscal union, Merkel did not omit to mention certain EU countries outside the euro zone which "don't get so much attention."

"It is important to keep in mind the problems being faced by people in Spain, Portugal and especially in Greece. We must also realize what sacrifices people are making in countries not in the euro zone, and who don't get so much attention, like the Baltic states, Bulgaria and Romania," declared the German chancellor, adding an explicit recognition to the fiscal stability of the non-euro zone countries in question:

"We often fail to realise the contribution that people in the countries I have mentioned make towards the euro being a solid, stable currency."

"Poland has always made it clear that even if it doesn't yet have the euro, it is still ready to make a great commitment," Merkel added.

Bulgaria has been praised widely for its macroeconomic stability, including the sixth lowest budget deficit and the third lowest public debt in the EU.

It is also known for having the lowest taxes in the European Union. In 1997-2002, Bulgaria's currency, the lev, was pegged to the deutsche mark, and since then - to the euro.

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