Deputy Prime Minister and Minister of Finance Galab Donev participated in the informal meeting of the EU Council for Economic and Financial Affairs, ECOFIN, and in a meeting of the Eurogroup in Dublin, where ministers discussed the future of financial innovation in Europe and the impact of artificial intelligence on European economies and societies.
According to information from the Ministry of Finance, the talks were held during meetings held on September 18 and 19, 2026. The agenda also included the competitiveness of the banking sector in the European Union and the need for a regulatory framework that remains proportionate and in line with the objectives of the sector.
Bulgarian position in ECOFIN
Donev indicated that it is important for Bulgaria that scientific and computational capacity be accessible to more enterprises and administrations. He also expressed satisfaction with the participation of Kristalina Georgieva in the working session, after a short meeting with her, the Ministry of Finance reported.
During a working lunch, the finance ministers also discussed the resilience of the banking sector. According to the Bulgarian side, adequate capitalization at the local level and sufficient loss-absorbing capacity are among the key protective mechanisms for banks in the event of adverse shocks.
Regulatory burden remains an issue
The minister emphasized that the overall regulatory burden continues to be a structural challenge for the competitiveness of the European banking sector. Bulgaria welcomes the steps taken for simplification, especially in supervisory and regulatory reporting, and encourages further efforts for a more predictable and consistent framework, the ministry said.
The Eurogroup meeting also discussed the challenges facing productivity, competitiveness and growth in the euro area. The discussion on financial innovation comes against the backdrop of a broader European debate on how new technologies, including artificial intelligence, can be used without weakening the supervision and stability of the financial system.
Sources: Ministry of Finance, Council of the European Union, News.bg