Bulgarian EU Commissioner Lauds Retirement Reform

Bulgaria's EU Commissioner, Kristalina Georgieva (right) with President-elect, Rosen Plevneliev, at the sixth meeting between the cabinet and the business "Europe Reload."

People in Europe must either learn how to work more or how to spend less; spend according to their income, and manage their expenditures.

The statement was made Tuesday in Sofia by Bulgaria's EU Commissioner on International Cooperation, Humanitarian Aid and Crisis Response, Kristalina Georgieva, at the opening of the sixth meeting between the cabinet and the business, organized by the Bulgarian "Capital" weekly in partnership with the Confederation of Employers and Industrials in Bulgaria (KRIB). The meeting is held under the motto "Europe Reload."

"We are all countries in one Union, but we all have different problems. Bulgaria is only one of three countries that dont't need fiscal consolidation over our low budget deficit and low external debt," Georgieva said.

The other two EU Member States in a similar situation are Estonia and Luxembourg.

The Commissioner stressed that absorption of EU funds is crucial for Bulgaria.

"This cabinet did the impossible; we were at Europe's tail and we no longer are. We in Bulgaria now are much better off than Italy," Georgieva stated, adding that the new Member States are dealing with the crisis much better than older ones.

She also praised the cabinet for the courage to implement the retirement reform, which she sees as a must and the only solution.

"I am convinced Europe will come out of this crisis stronger, but in order to achieve it we must be honest towards each other; proud of what we have accomplished, and admit that there is still a lot to do," the Commissioner concluded.

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