Bulgarian Central Bank: Bankruptcy Fears Are Groundless

The building of the Bulgarian Central Bank, BNB, in downtown Sofia. Photo by Sofia Photo Agency

Bulgaria's Central Bank (BNB) issued Thursday an official statement condemning earlier talk in the Parliament about the bank system as the next attempt of destabilizing country's finances for the sake of politics.

The declaration came on the heels of words of the leader of the conservative "Order, Law and Justice" (RZS) party, Yane Yanev, saying three Bulgarian banks are facing bankruptcy and are surviving thanks to the "life support " of the State treasury pouring resources in them. Yanev spoke for reporters in the Parliament's hallway during the budget 2011 debates.

"The facts are indisputable – the Bulgarian bank system is functioning under normal conditions; it is fully stable because it is subject to strict monitoring and regulation. This has been confirmed on numerous occasions by prestigious international experts and institutions, including in times of raging economic crisis in Europe," the statement reads.

BNB point out the spreading of groundless fears works against the interests of Bulgarian citizens, economy and State.

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