Mladenov: Bulgaria will not participate in the raising of €200 bn for the IMF

“Bulgaria has no commitment to provide additional contributions to the IMF under the European Financial Stability Mechanism (EFSM) and the Government will not allow taxes to be imposed by institutions outside the country,” said yesterday in Parliament Minister of Foreign Affairs Nickolay Mladenov. He explained Bulgaria’s position at the European Council in Brussels last week. The forum decided to provide some additional €200 bn to the International Monetary Fund (IMF) for the bailout of the Eurozone.

Mladenov stated that Bulgaria is not a contracting party under EFSM, which is in force for the Eurozone alone. He added that the country is not obliged and does not intend to provide additional financial resources to the IMF. The countries from the Eurozone and another 4-5 states outside it will remit about €150 bn, together with Sweden, Denmark, the Czech Republic and Poland which will cover the remaining amount of about €50 bn. Officials from the Ministry of Finance also confirmed for Klassa daily that Bulgaria has not undertaken any financial commitments but has given political support for the measures aimed at saving the Euro.

Mladenov was clear that the Government will not involve Bulgaria in making a decision on the signing of the agreement for stabilising the Euro proposed by Brussels without consulting the National Assembly. Bulgaria is the third country, after the Czech Republic and Sweden, which has declared that a decision cannot be taken without consultations in Parliament. In this way, the Minister of Foreign Affairs brought to an end the speculations as to whether the Government wants or does not want to coordinate its position with the National Assembly. Mladenov was clear that the development of Bulgaria depends on the deepening of European integration and on the strong common European currency, but only if each EU country maintains its right to set its own taxes. "

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