bbc news
26 November 2010 Last updated at 15:15 GMT
Bulgaria's finance minister has hit out at European institutions which failed to prevent the eurozone crisis.
Simeon Djankov told the BBC that he had been involved in talks to build new supervisory bodies.
But he said no one had "dared to ask what happened to the current institutions".
However, Mr Djankov made it clear that Bulgaria, which joined the European Union in 2007, still wanted to join the euro.'Not bothered'
"Once you design a new currency you need the institutions to go with it and the recent troubles showed we don't have the institutions," he told BBC World Service's Business Daily.
And he added that the current approach of setting up more supervisory bodies for banks, insurance firms and other sectors was missing the point.
"Nobody is daring to ask what happened to the current institutions," Mr Djankov said, accusing the European Commission and the European Central Bank of not being rigorous enough in monitoring the economies of eurozone countries.
Simeon Djankov told the BBC that he had been involved in talks to build new supervisory bodies.
But he said no one had "dared to ask what happened to the current institutions".
However, Mr Djankov made it clear that Bulgaria, which joined the European Union in 2007, still wanted to join the euro.'Not bothered'
"Once you design a new currency you need the institutions to go with it and the recent troubles showed we don't have the institutions," he told BBC World Service's Business Daily.
And he added that the current approach of setting up more supervisory bodies for banks, insurance firms and other sectors was missing the point.
"Nobody is daring to ask what happened to the current institutions," Mr Djankov said, accusing the European Commission and the European Central Bank of not being rigorous enough in monitoring the economies of eurozone countries.
He also criticised Eurostat, the official statistics body at the EU, saying: "Didn't they know about Greece's problems, the Irish problems? They seem to not have bothered doing as much analysis as they should."
"The institutions themselves need some health checks and then some changes."
"The institutions themselves need some health checks and then some changes."
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