Kristian Vigenin: People matter most to us. The state should take the measures that bring security for incomes

“The accession of Bulgaria to the eurozone is a success for Bulgaria. This is a community that offers the country many opportunities. The question is to make sure the process is a success and that we take maximum advantage of eurozone membership. People matter most to us, and first of all an adequate and effective information campaign is needed, one that answers the fears and reassures citizens. The state has to step into its role and the measures that will bring calm and ensure a smooth process of moving to the new currency have to be taken.” This was stated by the head of the Delegation of Bulgarian Socialists Kristian Vigenin in the special bTV studio from Strasbourg, where the readiness of Bulgaria to join the eurozone is due to be voted on by the European Parliament.

Kristian Vigenin noted that honesty requires saying that there are also risks for people incomes in the first months after the introduction of the euro: “This is not a reason for dramas and fears, though, it is extremely irresponsible to approach Bulgarian citizens that way. We have to reassure them that the state has stepped into its role. If necessary, if there is higher inflation that affects purchasing power, the state has all the instruments to compensate these incomes, higher pensions, a higher minimum wage. Let it be clear from now on that people will not become poorer, and let that be stated firmly enough. A good information campaign can quite quickly overcome these fears of inflation and falling incomes.”

A cap on mark-ups and the benefits of the euro area

Kristian Vigenin pointed out that the socialists are also in favour of a cap on mark-ups if a jump in prices is seen that is not justified. “It is more important to compensate incomes than to suppress prices, because at some point that can blow up. What is happening has to be monitored daily and all possible measures that will deliver results have to be taken,” the MEP commented.

Vigenin added that the eurozone can make Bulgarians richer, pointing as an example to the other countries of Eastern Europe that have already introduced the euro. He recalled that he was among the first MEPs of the country and that at the time he fought for the euro banknote to say “euro” in Bulgarian.