During a hearing in the Committee on Economic and Monetary Affairs (ECON) of Christine Lagarde, President of the European Central Bank (ECB), Tsvetelina Penkova touched on the topic of Bulgaria's accession to the eurozone and the role of the ECB in supporting our country.
„As a country with a currency board, Bulgaria has the prerequisites for a smoother transition to the euro. How will the ECB support this process and what are the next concrete steps that we can expect?“, Penkova asked, emphasizing the need for a clear perspective for the process of our country's accession to the single currency.
Christine Lagarde expressed optimism and categorical support. „We are encouraged by Bulgaria's progress. We await the new convergence report, and the achievements in the fight against money laundering and other key areas look encouraging. We welcome the prospect of Bulgaria joining the euro area and will provide all necessary technical support in this process“, said Lagarde, confirming the ECB's commitment.
Support for Bulgaria's entry into the euro area has been expanding significantly in recent months. Eurozone countries have welcomed the country's progress, with the Eurogroup conclusions noting the significant progress towards adopting the euro. The expected reports from the European Commission and the ECB in June will provide further clarity, and according to the latest Eurostat data, inflation in Bulgaria now meets the price stability criterion - a key element for membership. These positive signals are a result of the work of the Bulgarian MEPs, among whom Tsvetelina Penkova has also played an active role in recent years.
"Bulgaria's efforts for economic stability and reforms in key sectors are already yielding results, putting it in a strong position for the next stage of European integration.", Penkova added. "Our main responsibility remains to respond to the concerns of Bulgarian citizens through a clear, transparent and targeted information campaign. Our society must be informed about all the processes that are ahead. I recall that the role of regulators and the implementation of real control will be key to the success of the process of joining the Eurozone.“, Penkova was categorical.
"Bulgaria must be prepared on the path to the Eurozone. With the clear support of ECB President Christine Lagarde, our country is moving forward confidently.", emphasized Penkova, who is President of the European Energy Forum and Vice-Chair of the Committee on Industry, Research and Energy in the European Parliament.
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