Germany and France have denounced Standard & Poor"s warning that it may carry out an unprecedented mass downgrade of eurozone countries, a move which analysts have described as logical but tactless.The two countries pledged to continue to "reinforce the governance of the euro area" and "foster stability, competitiveness and growth."Sarkozy and Merkel said they would "take note" of the S&P"...
Bulgaria"s Corporate Commercial Bank continues to hold the biggest share of the money of strategic state-owned companies, a check has shown."There is no significant change in the data about the banks which serve state-controlled enterprises in comparison with last year," a high-ranking governmental official told 24 Hours daily, speaking on condition of anonymity.Bulgaria"s Corporate Commercial Ban...
Bulgaria still wants to join the euro zone despite recent predictions that the single currency will collapse, but does not agree with a single tax rate in the currency area, Traicho Traikov, Bulgaria"s Economy Minister, told CNBC on Thursday."I know now it"s fashionable to predict the end of the monetary union, but I think common sense will still dominate and it is going to survive. Of course, in...
EU governments, including Bulgaria, need to intensify their efforts for reforms and financial dicipline if Europe is to overcome the financial crisis, stated a team of Bulgarian economists Sunday.The Macro Watch team, a project of Open Society Bulgaria since 2007 unites experts from the most high-profile Bulgarian ecnonomics think tanks."The crisis in Europe deepens, negative scenarios for the Eur...
The Bulgarian government is determined to keep the austerity measures included in the draft state budget for 2012 and not bow to social pressure, stated Minister of Finance Simeon Djankov Sunday."What we"re doing is what real reformists do in times of crisis," said Djankov on a visit to the Black Sea town of Sozopol.The statement of the Finance Minister comes in a moment of intense social turmoul...
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