Bulgaria Rightists Demand Currency Peg Guarantees

The UDF leader, Martin Dimitrov, strongly opposes the elimination of the Currency Board and the construction of a second NPP. Photo by BGNES

Bulgaria’s right-wing Union of Democratic Forces (UDF) will support the GERB cabinet reshuffle with certain conditions.

The statement was made Tuesday by the UDF leader, Martin Dimitrov, who says the future Deputy Prime Minister, Ilian Mihov, must rescind his ideas of eliminating the Currency Board in Bulgaria and postponing Bulgaria’s Eurozone entry.

Mihov is an internationally recognized young macroeconomics professor, who was recruited by Bulgaria's PM Borisov to strengthen the government’s financial and economic team.

Earlier, Ivan Kostov, leader of Democrats for Strong Bulgaria (DSB), the other party in addition to UDF, forming the so-called rightist Blue Coalition, also criticized Mihov’s idea of a loose Currency Board arrangement qualifying it as very alarming.

Meanwhile in an interview for the local daily 24 Hours Mihov denied he aims to loosen the Currency Board arrangement, blaming journalists for not getting the point from his statements for a more conservative system.

UDF also voiced opposition for the construction of another Nuclear Power Plant (NPP) at the Danube town of Belene, saying it is the desire of the country’s oligarchs because it will give them plenty of opportunities to steal.

“We are witnessing a serious pressure on the cabinet and notice with regret Borisov’s weakened position on the issue. We are adamant the project must be halted,” Dimitrov said Tuesday.

In addition, UDF criticizes the PM for keeping members of the opposition socialist party BSP and the ethnic Turkish Movement for Rights and Freedoms (DPS) on key posts while their previous rule had become a symbol of corruption and incompetency.

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