Friday, 27 January 2012The Members of the Bulgarian Parliament are debating Friday the Draft Decision on Bulgaria joining the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union or the so-called EU Fiscal Pact.
Foreign Affairs Minister, Nikolay Nladenov, informed the MPs that the country has set six conditions for the joining, such as no tax harmonization in the EU.
The Eurozone pact aims at establishing more rigid fiscal discipline and stronger coordination of economic policy.
Both, Prime Minister, Boyko Borisov, and his Deputy, Finance Minister, Simeon Djankov, are in plenary hall since the beginning of the Friday session.
On Wednesday, MPs from three Parliamentary Committees – on Foreign Policy, on European Affairs, and on Budget, at a joint meeting, passed the proposal with which the Parliament gives the cabinet green light to take part in negotiations for the Pact.
The decision states that in joining the Pact, Bulgaria should not assume fiscal responsibilities and will not coordinate its economic policy with the one of the countries in the Eurozone; will not harmonize taxes with the Eurozone, and will have a status of observer at meetings of Eurozone members.
Another condition is for the rules to be valid for the entire EU, without exceptions and parallel structures. The decision also states that Bulgaria will fully endorse the Treaty after joining the Eurozone.
The debates continue in plenary hall.
Meanwhile, economy experts have said that Bulgaria's joining of the Treaty is a must, but it remains unclear how the new fiscal discipline rules will be controlled – they ask for the establishment of an independent body to execute this control.
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Friday, 27 January 2012
Novinite
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