10.11.2011

The events in Greece have direct influence on Bulgaria because we are in the same region, but most of the assessments are overstated. Deputy Minister of Finance Boryana Pencheva said the above in the \"Europe Now\" program on Darik radio. The Bulgarian banking system is extremely stable, having capital adequacy of over 15% and sufficiently high liquidity.

Bulgaria continues to insist on clear commitments by all EU Member States to include in their legislations an analogue of the Bulgarian Financial Stability Pact with restrictions on debt and budget deficit, said Boryana Pencheva. In her opinion the most difficult task at the moment is to adopt programs for the affected countries, which are to ensure stability and at the same time to preserve the capacity of the banking system to credit the real sector.

Bulgaria insists that the proposal for introduction of a financial transaction tax be reviewed globally and not on national level or only in Europe.

The euro area membership remains a long-term priority for our country but the 17-member club needs to be stable as what happens there impacts the entire European Union, added Pencheva.