Bulgaria Supports Eurozone Tax and Budget Pact, UK Out

Bulgaria has supported the new deal, which the majority of European leaders agreed last week in a bid to tighten fiscal discipline in the eurozone and tackle the bloc's debt problems. Twenty three states - all seventeen eurozone members and six other EU nations, including Bulgaria - agreed to adopt an accord with penalties for breaking deficit rules, Novinite.com (Sofia News Agency) wrote.

Four countries including Britain however refused to back a new intergovernmental treaty to deepen the integration of national budgets, raising concerns that the EU may turn into a two-tier system, with some countries pursuing deeper integration than others. "What is on offer isn't in Britain's interests, so I didn't agree to it," Cameron said at a briefing. "We're doing everything we can to save the euro," President Nicolas Sarkozy of France said at a news conference in Brussels following a marathon summit meeting of EU leaders.

"We would rather have reformed the treaty with 27 members," Sarkozy said. But Prime Minister David Cameron of Britain demanded an "unacceptable" opt out clause related to the financial services sector, Sarkozy said. 

amcham.bg

 

 

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