Bulgaria in 'No Hurry' to Enter EU Banking Union - PM

Bulgaria in EU | December 19, 2013, Thursday // 14:35|  views

Bulgarian PM Plamen Oresharski. Photo by BGNES

Joining the currently implemented EU banking union is not a policy priority for Bulgaria, stated Bulgarian PM Plamen Oresharski.

"Bulgaria will follow closely how the banking union develops, but will be in no hurry to join it," said Oresharski for the Bulgarian National Radio.

"It is good for a member state to join the banking union, but only if it can use all its benefits. If some of the benefits are restricted for eurozone members only, then things look differently," added the Bulgarian PM.

Eurozone finance ministers have agreed on the details for the banking union's second pillar, which aims at the restoring or closing down of financially troubled banks.

Ruling Bulgarian Socialist Party and Party of European Socialists leader Sergey Stanishev also told the National Radio that he does not view joining the banking union as a priority.

"The financial and banking systems in Bulgaria are among the best and most stable in the entire EU," said Stanishev.

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Tags: banks, EU, banking union, Eurozone, Plamen Oresharski, Sergey Stanishev, Bulgarian Socialist Party, Party of European Socialists

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