05.12.2012

\"The euro crisis has been created and aggravated by political errors\", Deputy Prime Minister and Minister of Finance Simeon Djankov said for the Austrian newspaper Der Standard, which published a survey material on the link of economy and politics. Djankov stated for the newspaper that the Greek debt should have been restructured as early as May 2010. According to the Bulgarian finance minister the additional two years that Greece has been given are not a good idea because without adjustment expenditure rise. Djankov told the newspaper that the advice he got, when joining the Government, from the former economic advisor of Barak Obama and well known economist Larry Summers was that in times of crisis markets respond but the response of politics should be stronger. \"European politics has failed in this respect\", the Finance Minister thinks.