26.10.2011

Bulgaria does not support the proposal for a temporary increase in EU co-financing for those Member States that implement financial support programmes. This reads a statement made by Bulgaria and sent to Brussels in connection with the proposal for a temporary increase in EU co-financing by amending Article 77 of Regulation No 1083/2006.

According to our country, such an amendment would result in an unequal treatment of those Member States which have pursued prudent fiscal policies in the conditions of a financial and economic crisis and have not encountered difficulties with their liquidity.

The position in principle, which Bulgaria has already stated and will continue to maintain, is that the introduction of such an amendment would demotivate the Member States to adhere to the Stability and Growth Pact. Our country will continue to uphold its view that solving crisis-related issues needs a coordinated approach and consideration of incentives to the financially regulated EU Member States.