Finance Minister Oresharski Takes Part in Informal Meeting of ECOFIN

Bulgarian Finance Minister Plamen Oresharski attended Saturday the informal meeting of the Economic and Financial Affairs Council (ECOFIN) of the EU in Porto, Oresharski's Ministry said in a press release, cited by BTA news agency.

On the agenda of the meeting were the situation on the financial markets, the likely effects of the possible further decline in the U.S. economy, and the financial stability of the EU.

Bulgaria's position is that the possible drop in the U. S. economy will not have a tangible negative effect on the European economy.

Bulgaria agrees and supports the presented analysis of the macroeconomic and financial situation in the EU. Bulgaria is of the opinion that the most likely scenario for the short-term development of macroeconomic conditions in the EU is quick normalization of the situation on the financial markets.

Bulgaria supports the creation of permanent national groups for financial stability and will actively support the exchange of good practices between them.

Bulgaria also supports the proposal for broadening the Memorandum of Understanding vis-a-vis crisis management and the inclusion of it and Romania in the document.

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