SOFIA (Bulgaria), January 22 (SeeNews) – Bulgaria's economic development is surprisingly good and the country would pose no risk to the Eurozone which it aims to join, the Chief Spokesperson of the European Commission (EC), Margaritis Schinas, said on Monday.
"Those who claim Bulgaria would be a risk [for the Eurozone] are not aware of what the Bulgarian economy is doing in terms of inflation and debt," Schinas said speaking through an interpreter in an interview broadcast live by Bulgarian public radio BNR.
However, no political compromise is possible for the accession of the country to the Eurozone, and Bulgaria will be judged by the rules, Schinas said.
"An in-depth analysis is carried out not only the EC but also by the European Central Bank (ECB)."
Earlier this month, Bulgaria's finance minister Vladislav Goranov said the government will most likely apply for joining the Exchange Rate Mechanism II (ERM II), the system set up by the EU for the preparation of member states for the introduction of the euro, in the first half of 2018 while the country holds the presidency of the Council of the European Union.
Bulgaria needs to attract more foreign investments and increase the productivity of its economy before joining the Eurozone, the EU Commissioner for Economic and Financial Affairs, Pierre Moscovici, said on Friday.
"We welcome the enthusiasm for the introduction of the euro, but in order for the Eurozone to be successful, there are criteria and they must be met. This is in the interest of both Bulgaria and the whole EU," Moscovici said in a live broadcast of BNR.
During its current presidency of the Council of the EU, Bulgaria should dispel the doubts of some EU member states about its accession to the bloc's borderless Schengen area, Schinas said on Monday.
When Bulgaria and Romania join Schengen, the area between the White Sea and the Danube river, between the Black Sea and Chalkidiki peninsula in Greece will be a single territory. "Then you will see what this will mean in relation to interdependence, currency exchange and economic activity. This is only the beginning," Schinas noted.
Bulgaria took over the rotating presidency of the Council of the European Union from Estonia on January 1. Bulgaria's presidency, which will last until June 30, will focus on four key areas - future of Europe and young people, security and stability, Western Balkans integration and digital economy, the Council said earlier this month.
The European Commission needs to give an impetus to the integration of the Western Balkan, especially to the countries which are the most advanced in their EU accession talks, such as Serbia and Montenegro, Schinas said.
In September, the Commission said it plans to draft a strategy for the accession of Serbia and Montenegro to the EU with a 2025 perspective. The strategy will have a particular emphasis on the rule of law, fundamental rights, the fight against corruption and on the overall stability of the region, the Commission said in a letter of intent to the European Parliament president Antonio Tajani dated September 13.
Albania is moving one step behind in its EU integration process but is advancing well, Schinas noted.
"Macedonia will also be advancing well if the new government turns what it speaks about into action," he added.
Tirana is expecting to open EU accession negotiations in 2018. The country was granted EU candidate status in June 2014. In November, EU enlargement commissioner Johannes Hahn expressed hopes a political decision on the start of membership talks with Macedonia will be made in the first half of 2018. Skopje dispute with Athens about the name of Macedonia is among the main reasons for the lack of progress in the EU integration process of the country, Hahn said at the time.
The integration of the Western Balkans is a process that will continue after the six-month rotating presidency of Bulgaria expires, as Austria, which historically has interests in the region comes next, while Romania will take over in January 2019, Schinas added.