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Tuesday, February 22, 2011

Bulgarian Socialists Frustrate FinMin's Hopes for Financial Stability Pact

Bulgaria's opposition Socialists have made it clear they will not support the Constitutional amendments known as a "Financial Stability Pact" proposed by Finance Minister Simeon Djankov.

The Bulgarian Socialist Party will oppose Djankov's brainchild, announced Georgi Kadiev, an economist known as "the red yuppie", who was a deputy finance minister the Stanishev Cabinet.

Kadiev has termed the Financial Stability Pact an "ultra-repressive measure against the Bulgarian economy." He said the Pact will be a "strait jacket for the center-right Borisov Cabinet", which is "cutting its own arms and legs".

He said the economy is getting deeper into the crisis, and the solution is to have Finance Minister Djankov and Interior Minister Tsvetan Tsvetanov resign and then to seek early elections.

Kadiev explicitly slammed Djankov for his statement that the adoption of the proposed Financial Stability Pact will help Bulgaria with its integration into the euro zone.

Djankov has hoped to draw support from all parliamentary groups for his Pact in order to raise the 180 votes out of a total of 240 that he needs in order to chance the Constitution. With a total of 76 MPs, however, BSP and the ethnic Turkish party DPS can deny him that possibility.

Source: http://www.novinite.com

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