CPC to fine traders 10% of annual turnover for speculation with prices in euro

We need to unite within the framework of the law to prevent price speculation after the adoption of the euro, the chairman of the Commission for Protection of Competition (CPC) Rosen Karadimov said at a press conference.

"There is no speculative market that is stronger than the state. With my colleagues, we will do everything possible to counteract speculation," Karadimov added. Together with the chair of the Commission for Consumer Protection, Maria Filipova, he held a working meeting on coordination between the two institutions against a possible speculative increase in prices due to the upcoming adoption of the euro in Bulgaria, BTA reported.

The two commissions will also check for prohibited agreements between traders. The sanctions for speculation are 10% of the turnover for the previous year and traders are aware of this, the chairman of the CPC added.