Prof. Petrov declares the measures for limited regulation proposed by us excessive regulation. The global experience proves that there is no totally liberalised market economy. Such is not even the US economy – the most liberal among the liberal economies. The article provides numerous examples for state regulation in the US and the other advanced economies.

Prof. Petrov recommends that the running of the economies of the less developed countries, such as ours, should copy the market mechanisms of the advanced countries with modern market infrastructure and competition. The present days Bulgaria however can not do this as it does not posses the above instruments. The lack of market environment for competition calls for government intervention in defence of the loyal competition and the interests of consumers. Adjusted to the realities moderate state regulation prepares the ground for deregulation. The premature retreat of the state from regulative functions in nonmarket environment leaves a vacuum, which benefits the monopolies and crime. Bulgaria is a textbook for this during the last 15 years.

Prof Petrov misrepresents the accession criteria for the EU. He writes that "important criteria for membership in the EU and the Eurozon, such as the deficits in the budget and the current account, the public debt ratio, the highest inflation and others will not be met". He must be aware that these are not the criteria for EU accession, but for the eurozone only, which is still far away from us. It suffice to see the deficits of the budget, the current account and the inflation of the central European countries acceding in May 2004, to understand that this is not true.