Multi-speed Europe

European Commissioner for Internal Affairs Ylva Johansson addressed the European Parliament in Strasbourg, urging the abolition of land border controls for Bulgaria and Romania by the end of 2024. She emphasized that both countries had fulfilled all necessary requirements to join the Schengen area, highlighting the importance of free movement for EU citizens.

A source from the Hungarian EU presidency expressed optimism regarding the full acceptance of Bulgaria and Romania into the Schengen Area, reports BNR. "We firmly believe there is a possibility to achieve the full membership of Bulgaria and Romania in Schengen, and we will do everything we can to make this happen by the end of our presidency," the source stated.

Inflation in Greece is proving to be persistent and with a significant deviation from that of the eurozone, as despite the slight slowdown in its growth rate it remained at the level of 3% in September, while at the same time in the eurozone it stood at 1.8%.

Speaking before the European Parliament’s Economic and Monetary Affairs Committee (ECON), the chairwoman of the ECB stressed that the world is changing fast and Europe is lagging. According to her, the competitiveness gap of the European economy against the US and China cannot be closed except by further integration of the eurozone to address its structural challenges.

The government has trimmed its forecast for 2024 economic growth for a second time this year to 2.2%, as stagnation in eurozone countries hits investment and exports, the finance ministry has said.

From projected growth of 2.9% at the beginning of the year, the forecast was cut to 2.5% in April, also because of a wider EU slowdown.

The European Commission reaffirmed today that Romania and Bulgaria are fully prepared for complete accession to the Schengen area, according to a spokesperson cited by the Agerpres agency and reported by BTA.

The Bulgarian Ministry of Finance is working on a budget with a deficit of up to 3% on an accrued basis, confirmed Deputy Minister Martin Danovski. This figure aligns with the Maastricht Treaty criteria, which is essential for Bulgaria's entry into the Eurozone.

Prime Minister Kyriakos Mitsotakis was interviewed by CNN and journalist Christiane Amanpour.

A decision on Bulgaria and Romania's full membership in the Schengen area for free travel is expected by the end of the year, according to Yordanka Chobanova, head of Bulgaria's EU permanent representation, as reported by BNR.

On BNR, Maria Mincheva, the deputy chairwoman of the Bulgarian Chamber of Commerce, emphasized the urgent need for a specific date for Bulgaria's Schengen accession, stating that clarity is essential for businesses. She pointed out that remaining outside of Schengen not only harms Bulgaria's reputation but also undermines investor confidence in the country.