20.10.2017

The Ministry of Finance organised a discussion with leading economists, financial analysts and representatives of the employers’ organisations to present the priorities within the Ministry’s remit in the draft Programme of the Bulgarian Presidency of the Council of the EU in 2018 in the area of enhancing the Economic and Monetary Union. The meeting is part of the Ministry’s campaign launched following a government decision to promote and discuss the specific priorities to be implemented during the Presidency. The first two public discussions on taxation and financial services were held in September. 

The Deputy Minister of Finance Marinela Petrova announced that the new Commission files on setting up a European Currency Fund, on a separate euro area budget, on the institution of a finance minister and a ministry of finance of the euro area were expected at the beginning of December. During its Presidency Bulgaria will be expected to advance those files due at the beginning of December.

“During the discussions our country will be stressing the need for opening all EMU enhancing initiatives up to non-euro area members, for making them transparent and non-discriminatory and for observing the single market principles”, Deputy Minister Petrova highlighted. Another priority within the remit of the MoF will be the measures aimed at completing the Banking Union, particularly the future establishment of its third pillar, a European Deposit Guarantee Scheme, while expecting to make further progress with regard to the risk mitigation measures and continuing the discussions on the development of the Capital Market Union. An important file is the one on a single pension product which is being discussed at a working group level. Among the other topics to be discussed during the Bulgarian Presidency are setting up a European safe asset and the debate on the single external representation of the euro area.

The participants in the discussion gave their views on EMU development and Deputy Minister Petrova said that the MoF was ready to receive and consider their views and specific ideas within the Presidency in order for Bulgaria to be able to defend its position of an active and useful partner in the common European family.