Bulgaria to Enter ERM-II after 'Recovery from Socialist Rule'

Business | July 20, 2012, Friday // 19:22|  views

Bulgarian Finance Minister Simeon Djankov has argued that the country will join the ERM-2 only after it recovers from socialist rule. Photo by Sofia Photo Agency

Bulgaria will join the enter the European Exchange Rate Mechanism (ERM II), commonly known as the Euro Zone waiting room, when the socialists have stayed out of government long enough, according to Finance Minister Simeon Djankov.

"We shall enter the ERM-II when the socialists have stayed out of government long enough to allow Bulgaria to show what its is capable of," Djankov stated in Parliament Friday, responding to a question of left-wing opposition MPs Rumen Ovcharov and Plamen Oresharski about the plans of the GERB government.

Djankov's 'prediction' came after he cited Greece, Portugal, Spain, Cyprus, Ireland and Slovenia as examples of countries with shaky finances.

"The question is who ruled these countries during the crisis – socialists, socialists and again socialists," Bulgaria's Finance Minister and Deputy Prime Minister added.

Djankov reiterated his stance that Bulgaria and Sweden were the only EU countries with balanced budgets.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Tags: Finance Minister Djankov, Deputy Prime Minister, ERM-II, Eurozone, euro zone, Socialists, Bulgarian Socialist Party, Rumen Ovcharov, Plamen Oresharski, GERB government


» Related Articles: