By Akerlof and Shiller

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The public-private partnership is a long-term contractual relationship among persons from the private and the public sector for the financing, construction, reconstruction, management, and maintenance of infrastructure with the goal of achieving a better level of services. Those partnerships were especially promoted in the area of environmental protection, where a lot of financial resources were needed for the harmonization of domestic legislation with the EU environmental acquis. Financial Aid In regard to the utilization of EU funds, joint working groups and commissions were also created for the joint monitoring and control of the preaccession funds (SAPARD, ISPA, and PHARE), and for preparation for 22 Chapter 1 utilization of the EU post-accession financial instruments (the Structural Funds and the Cohesion Fund).

While public support for EU membership continued to be very high in Bulgaria, the surveys clearly showed that it was at the same time rather abstract. Public debate on European integration was weak and superficial, focusing mainly on Bulgaria’s candidacy for EU membership, not on the future membership and the ensuing commitments of the country. Citizens were not aware of many of the real problems stemming from actual membership. The surveys also revealed that Bulgarians were not particularly concerned with the prospect of any loss of national sovereignty in a united Europe—a concern that as a rule generates Euro-skepticism everywhere.

The commission encouraged the active engagement of the social partners in consultations over the harmonization of domestic legislation with the EU common law (Lado and Vaughan-Whitehead 2003, 78). Financial Aid The partnership principle was further reinforced through the design and use of pre-accession and post-accession financial instruments—such as building partnerships on strategic programming and absorption capacity for utilization of the funds, for joint monitoring and control of the funds, public-private partnerships, and business clusters with the participation of governments and other important stakeholders—for increasing the international competitiveness of domestic businesses.

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Animal Spirits, Princeton by Akerlof and Shiller


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