Valdis Dombrovskis: "Bulgaria is Ready for the Eurozone"

"The Bulgarian economy is stable, it should not be difficult for Bulgaria to enter the Eurozone waiting room, but after you are inside, it takes three years for the euro to come into practice." This was stated in an interview with BNT by the European Commission Vice-President, responsible for the euro and social dialogue, Valdis Dombrovskis. This week he is expected to present the long-awaited eurozone reform package.

"We are currently working on this to complete the economic and monetary union and we will present the package of measures on December 6. The main idea is to make the eurozone stable and sustainable against potential future economic shocks.We must also restart the process of convergence within the Union. "We are starting a series of initiatives, such as creating a separate eurozone budget line within the European budget to ensure fiscal stability, "Dombrovskis explained.

He added that it is planned to create a pre-accession instrument to help Member States seriously working to introduce the euro. There are also initiatives to finalize the Banking Union and the Union of Capital Markets. "We will also strengthen the role of the European Stability Mechanism, which will become a European Monetary Fund," said the Deputy Chairman of the European Commission.

According to him, when the euro is introduced, Bulgaria can expect serious support - above all technical assistance, but financial support can also be expected. But he added that it is not just money or at least money is not on the first place.

"We look forward to Bulgaria taking over the presidency of the Council of the European Union, and the Bulgarian government was already here for a meeting with the European Commissioners." We had the opportunity to discuss the priorities of the Bulgarian Presidency, and I would say that they fully meet the the economic priorities of the European Commission I look forward to serious work on structural reforms and a series of legislative proposals related to the Banking Union and the Capital Markets Union . But, of course, there are many other areas where the Bulgarian presidency will have to be very active. "

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