Bulgarian President on Greece: Crises are not resolved by just pouring out money

Crises are not resolved by just pouring out money, but by responsible actions by politicians who undertake reforms to ensure stability, Bulgarian President Rossen Plevneliev said on July 3 in a comment on the crisis in Greece.

“We are well-intentioned and want a swift solution to crises, wherever they are, around us in Europe and around the world,” Plevneliev told reporters in response to a question about the Greek crisis.

“Yes, we will be concerned, this is abundantly clear, but we are well prepared. Whatever happens in Greece, Bulgaria has learnt its lessons from more than one crisis into which it has fallen,” he said.

“The Bulgarian economy is stable and growing, despite the crisis around us. Bulgarian banks are liquid and will deal with any situation, Bulgarian institutions are carefully monitoring the situation and have taken all measures.”

Plevneliev said that as head of state, he wanted to reassure people that Bulgaria was well prepared and would pass with dignity through any crisis in the region, including in Greece.

Stability leads to investment, growth and development, he said. “A lot of us want the Greeks to take bold action to reform leading to stability and hence the economy and the nation to go forward,” Plevneliev said.

He said that there always had been crises and always would be. “Our task is to understand our neighbours and good friends in Greece, to help in any way possible to find a solution. For Greeks, the times are severe, we have to show understanding, hoping that their crisis situation would normalise as quickly as possible.”

Earlier this week, Bulgarian Foreign Minister Daniel Mitov said that Bulgarian companies had long been aware that a possible crisis in Greece would result in a need for them to shift their exports and at least some of them were prepared for this.

Mitov reiterated, as several government officials in Bulgaria and the country’s central bank have, that there was no risk to the financial position of Greek banks in Bulgaria.

“The banks with Greek ownership are in practice Bulgarian and function under the rules of our banking system. They are compelled to maintain high liquidity and are under the Bulgarian National Bank’s supervision. There should be no fears about this.”

He said that Bulgaria hoped for stability in its neighbour, adding that there was a clear need for reforms to be undertaken.

Debt was not paid by referendums, and responsibility must be undertaken, he said.

“We are in very good neighbourly relations with Greece and continue the same way, to treat Greece with goodwill and in the hope that stability there will be maintained, that Greece will not leave the euro zone and a solution to the crisis will be found,” Mitov said.



The Sofia Globe staff

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