08.07.2014

Minister Petar Chobanov met with Joaquín Almunia, Vice-President of the European Commission and Commissioner responsible for competition, within the framework of his visit to Brussels where he participated in the meeting of the Economic and Financial Affairs Council (ECOFIN) held today. The Finance Minister informed Commissioner Almunia about the latest situation in Bulgaria after the EC approved the scheme for support to the bank liquidity in the country and thanked for the timely reaction and support of the Commission.  

At the ECOFIN meeting the ministers had an informal discussion on the priorities of the Italian Presidency and in particular on the proposed strategy for growth based on three pillars - integration, structural reforms and financing of the economy. The ministers also had a discussion within the on-going Review of the EU2020 Strategy.

ECOFIN was informed about the progress of the negotiations with Switzerland, Liechtenstein, Andorra, Monaco and San Marino for signing agreements based on implementing a new single global standard for the automatic exchange of information, developed by the OECD and the amended Savings Taxation Directive. The new agreements will replace those of 2004.

ECOFIN was also informed about the progress of the review of the quality of assets and the stress tests of the bank; the final result thereof is to be announced this autumn. The Ministers were informed about the progress of the negotiations on Level 2 legislation concerning bank contributions under BRRD/SRM.