site.btaPM Sees No Point in Euro Debate Manipulating and Intimidating People

"There is no point in starting a debate that manipulates people, instills fears in them and controls these fears, when the nation should be confident that the euro changeover only benefits a better competitiveness of the Bulgarian economy," Prime Minister Rosen Zhelyazkov said here on Tuesday. "Our government does not need this stage setting and this libretto," he argued during a discussion on financial literacy as a factor of investments, incomes and Eurozone, organized by the Economic and Social Council.

According to the PM, the inter-institutional squabbles currently dissuade society and split it into "pro-euro" and "euro-phobes" or "pro-Europeans" and "Eurosceptics". "These squabbles can merely enhance the awareness that political dialogue is inadequate and re-entry into an election spiral is possible," he opined.

Zhelyazkov noted that the Introduction of the Euro in Bulgaria Act, which has been passed by the National Assembly and has been promulgated by a presidential decree, explicitly defines the date of this introduction. "A debate after the fact of this enactment makes one feel that we are talking about other subjects that at this point are very far from next year's presidential election campaign," the Prime Minister commented.

He emphasized that the State will tackle price speculation attempts to the full extent of its intolerance of such phenomena. "Bulgaria has a huge advantage because of the fixed exchange rate and the benefits of the currency board arrangement. The Bulgarian National Bank is cast in a clear role as coordinator," Zhelyazkov pointed out. He counts on feedback from civil society and the NGO sector. "When a macroeconomic projection is made, the levels of inflation and income growth are quite clear," he added.

The PM insisted that Bulgaria's accession to the Eurozone is not subject to political debate. "It may be a matter of awareness raising or of a need to familiarize the public with rigorous measures to suppress speculative practices trends that certain bad-faith traders will inevitably try to implement," he said.

Zhelyazkov recalled that the political discussion began back in 1997 and was actually completed in 2005. Next, everything was a question of technology as to whether Bulgaria was ready for the lifting of the derogation, which the Council of the European Union and the European Parliament will be addressing over the next two months. "This debate could have been prompted by a temptation to use the subject of our European identity and belonging to the EU - the way it has happened over the years, the way it could happen when society follows leaders preferring the flag of populism," the PM said further.