Bulgaria Will Not Hinder EUR 7 B Bridge Loan to Greece – Finance Minister

Bulgaria in EU | July 17, 2015, Friday // 12:38|  views

Bulgarian Finance Minister Vladislav Goranov (L) and Prime Minister Boyko Borisov (R) commented on the topic of the EUR 7 B bridge loan to Greece on Friday in Parliament. Photo by BGNES

Bulgaria will not obstruct the allocation of a bridge loan of EUR 7,160 B to Greece provided that there are firm guarantees enshrined in law that EU countries outside the euro zone will not be directly affected financially by potential unfavorable developments in the country, according to Finance Minister Vladislav Goranov.

Speaking Friday in Parliament, Goranov stated that it was also necessary to make sure the additional compensations to the EU budget would be made or provided by euro zone countries.

Goranov, as cited by the Bulgarian Telegraph Agency, noted that, given these solid guarantees, the Bulgarian government believed that there was no cause for concern and Bulogaria could join the positive decision of the UK and the other countries outside the euro zone on the provision of a bridge loan before the activation of the third bailout package for Greece.

He declared that Bulgaria did not take financial risk by backing the application of this mechanism.

Meanwhile, Prime Minister Boyko Borisov pointed out that it would be anti-European if Bulgaria remained the only country in Europe to fail its neighbor.

He told MPs that Bulgaria had to act as a good neighbor to Greece, taking into account the guarantees that it would be given for the step.

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Tags: Vladislav Goranov, Boyko Borisov, finance minister, Bulgarian Prime Minister, bridge loan, Greek crisis, bailout package, euro zone


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