Messages in the Media - University of Toronto

The Euro crisis, Bulgaria's involvement in Euro-Plus
and Bulgaria's own economic performance
- General reporting on the developments related to the Euro
crisis, 69 70 such as the troublesome economic decline of
the Eurozone; 71 focusing mainly on the situation in
neighbouring Greece, 72 with several reports also dealing
with Italy, Spain, 73 and Portugal’s74 economic difficulties.
- Reports on the domestic economic reality75 in comparison
with that of the EU76 77 as a whole and several of the most
fiscally troubled member states. These reports feature
reviews of the Bulgarian economy78 79 80 and health of the
financial sector, 81 82 83 84 and discuss the country's eventual
transition to the euro. 85 86 87 88 89 90 Several reports also
discussed the EU's request that Bulgaria alter its tax
laws, specifically the conditions applied to its VAT refund,
claiming that the practice was discriminatory to persons
involved in activities within the European Union. 91
- Bulgaria’s participation in Euro-Plus92 93 and its contribution
towards possible bailout funds; 94 95 96 including several
widely read interviews with the Minister of the Interior,
the Premier, 97 98 the Minister of Economics, 99 the Minister
of Finance, 100 101 102 and European leaders 103 regarding
the Euro crisis104 105 as a whole and Bulgaria's
economic position within it. 106 107 By the end of 2011,
Premier Boiko Borisov proposed that the countries within
the EU that have maintained a deficit under 3% should
be rewarded for their fiscal discipline and others be encouraged
to follow suit; 108 109 110 this is referred to as 'the
golden rule,'111 and the Bulgarian administration has
heavily advocated its implementation. 112 113 114 Reports
have also indicated that the administration, joined by
other Eastern European states, does not want to financially
support bailout funds for struggling EU countries such
as Greece, where the standard of living is significantly
higher than in Bulgaria. 115 116 117
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