site.btaEU Commissioner Zaharieva Comments on Bulgaria's Eurozone Accession, EU Innovation Regulations

European Commissioner for Start-ups, Research and Innovation Ekaterina Zaharieva said in a Bulgarian National Television interview on Friday that Finance Minister Temenuzhka Petkova  assured her that Bulgaria's goal of becoming a member of the eurozone has not changed and that work is being done on the matter. 

Zaharieva explained that after the number meetings she held in this country with ministers and the Prime Minister, she does not feel any hesitation about membership in the eurozone, but rather that this request should be made when the budget is ready and it is certain that all criteria have been met. Zaharieva stressed that the European Commission is ready to cooperate and work with Bulgaria on the future request for the preparation of a convergence report.

Zaharieva pointed out that it is time for work, as there are important tasks ahead of Bulgaria, and the election campaign has already ended and Bulgarian citizens are expecting solutions.

The EU Commissioner noted that the fact that Bulgaria may lose funds under the National Recovery and Resilience Plan is a result of the political instability in recent years, emphasizing once again that the EC is ready to assist this country on this topic as well.

"The Bulgarian government is working, I am convinced that a clear plan will be proposed to the EC, and the Commission is ready to cooperate," she said.

Zaharieva noted that Europe is the best educated continent, which is key in the field of science and innovation, adding that it is not true that Europe suffers from a lack of entrepreneurial spirit.

In order to solve the problems in the field of innovation, the EC has set itself two main tasks: simplifying the rules, including removing unnecessary administrative burdens, and reviewing each future measure in the context of competitiveness and how it will affect business, she explained.

A competitiveness compass will be proposed very soon, she said, adding that the lack of a complete single market in the EU is one of the main problems facing innovation, since in the US, for example, it is much easier for start-ups to operate in a market with a single regulation, she said.

"We need to create conditions for the private sector to invest in science and innovation, as the difference with China and the US comes from investments in the private sector," she pointed out.

Zaharieva noted the EC will propose many initiatives, including a European Innovation Act, working closely with individual member states, as a large part of the simplification of procedures depends on local governments, not the EC.

Asked for an example of cumbersome regulation, Zaharieva pointed to the bankruptcy procedure, which is proving to be a major obstacle for many businesses in the EU.

She explained that some of the proposed measures will not be mandatory, but rather recommendatory, while others will be in the form of legislative acts. These measures to strengthen competitiveness will be proposed this year and next.

"We have the potential, the talent and the innovative spirit," she said.

A Council for Artificial Intelligence at the European level is also encisaged, since no EU country is able to successfully develop technologies in this field on its own.
Asked about Donald Trump taking power in the US, Zaharieva pointed out that the US is and will remain the EU's most important partner.

"We are ready for talks and a deal, so we are ready to work with the US," she said.
"Europe should not depend technologically on anyone, we must manage to produce the technologies we need ourselves," the European Commissioner added.