Bulgaria will not bail out eurozone countries with debt, Lilyana Pavlova says

Bulgaria will not have to bail out eurozone countries that are experiencing difficulties. This is what Lilyana Pavlova, former vice president of the European Investment Bank, told the Bulgarian National Radio.

"In the contracts we sign and in the rules that operate, it is very clear that no country will pay the debt of another. We participate with our contribution, which is proportional to GDP. The funds are managed by the Stability Mechanism and in times of crisis, assistance is provided to the respective economy by issuing loans, but in no way does this create risk for the economies of the eurozone member states," Pavlova said. Joining the eurozone gives access to the European Stability Mechanism, she also pointed out and added that inflation is influenced by the markets, not by the currency used.

Editor: Ivo Ivanov

Publication in English: Al. Markov

Photo: BTA