European System of Central Banks

Bulgaria's Ombudsman on Thursday urged the central bank to be more flexible in managing its restrictions on KTB bank to alleviate the plight of the bank’s clients.

Guaranteed deposits in Bulgaria’s troubled Corporate Commercial Bank (KTB) will most likely be repaid under the next elected government, a leading Bulgarian economist has said.

Bulgarian lawmakers have rejected a motion that would have revoked the secrecy protecting credit files of politicians at Corporate Commercial Bank (KTB).

The bill was proposed by Yordan Tsonev, an MP from the liberal Movement for Rights and Freedoms (DPS) who was also the Chair of the outgoing Parliament's Budget and Finance Committee.

The European Commission has warned the Bulgarian National Bank to speed up the repayment of guaranteed deposits of natural and legal persons at the Corporate Commercial Bank (KTB).

Bulgaria’s troubled Corporate Commercial Bank (KTB) will not open on September 21 as initially expected, the central bank has decided.

By Simon Kennedy

When the European Central Bank policy makers first convened in June 1998, Bundesbank President Hans Tietmeyer didn’t like what he saw.

Sofia Municipal Council has discharged Stoyan Tsvetanov, who heads Toplofikatsiya heating utility's branch in the capital.

The decision was taken by a majority of 37 to one, with five abstained.

The resignation of the government will worsen Bulgaria's economic situation, as political struggles will scare investors away, an industrial union's Chairman believes.

His comments came after the Bulgarian Parliament approved a cabinet request to step down on Thursday.

Deposits for over BGN 1 B have been withdrawn in June from Bulgarian banks, shows data of the Bulgarian National Bank (BNB). 

The Governor of the Bulgarian National Bank (BNB) Ivan Iskrov said he was ready to resign, in a letter to Speaker of Parliament Mihail Mikov, report Bulgarian-language media.