Dimitar Radev

The ECB's assessment of six major banks working in the country has to show whether they can resist external as well as internal risks. Stress tests are already running and are due to the demand for Bulgaria to enter the Eurozone waiting room (ERM II mechanism) and the Banking Union, the 24-hour newspaper writes.

Adopting the euro will not generate inflationary impulses above the health levels, but that does not mean that prices will remain unchanged. This is a process of real convergence, which means bringing both incomes and prices closer to the average in Europe. BNB Governor Dimitar Radev said on BNT, reports Dnevnik. 

Prime Minister Boyko Borisov will present at the Eurogroup today the candidacy of Bulgaria for joining the Eurozone waiting room.

The meeting will discuss the work on the construction of the Economic and Monetary Union, and in particular the themes for the reform of the European stabilization mechanism and the next steps in the construction of the Banking Union.

''The banking sector in Bulgaria is stabilised after the problems we had in 2014 and bankrupcy of the country's 4th-largest credit institution - Corporate Commercial Bank due to fraud and internal misappropriation, but bad loans remain a challenge according to reports by the International Monetary Fund and the European Commission'', the governor of Bulgarian National Bank (BNB), Dimitar Radev,

''Accession to the Eurozone remains top priority for Bulgaria'', Finance Minister Vladislav Goranov said at a conference for the 25th anniversary of the Association of Commercial Banks in Bulgaria, according to BNR.

Bulgarian National Bank (BNB) Governor Dimitar Radev has said it is the right time for the country to access the ERM II Mechanism, the so-called "Eurozone waiting room".

"If I was looking for comfort, I wouldn't have occupied this seat. Over the last year, the situation was rather tense. Banking supervision is in much better shape now," stated the head of BNB Dimitar Radev.

The Bulgarian National Bank paid BGN 22.3 M to the Board of Directors and its employees in 2015.

BGN 6 M were for bonus payments, announced a report by the National Audit Office. Ivan Iskrov was the Governor of BNB until July, 2015. After that, the position was occupied by Dimitar Radev.

Reforms in governance and banking supervision at Bulgaria's central bank have been discussed at a meeting of its governor Dimitar Radev with the heads of missions of EU Member States and the delegation of the European Commission in Sofia on Tuesday.

The Bulgarian legislators have imposed an upper limit for the salary of the head of the country's financial regulator, making it equal to the wage of the Speaker of Parliament.