Belgium Pushes for Full Schengen Integration of Bulgaria and Romania
The Belgian Presidency of the EU is spearheading efforts to fully integrate Bulgaria and Romania into the Schengen area
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Economist Georgi Stoev told Novinite's Bulgarian-language website that the events around Corporate Commercial Bank (KTB) should not give ground to legal amendments.
"If we start changing legislation after a single case, this means we will set a precedent and give the occasion to other interested groups to seek legal changes, regardless whether in the financial sphere or in another one," Stoev argued when asked if new rules should be introduced to guarantee the deposits in KTB exceeding EUR 100 000.
Such amounts are not secured under Bulgarian law in case of a bank run or failure.
Stoev believes laws should be amended "rarely" and with "strong argumentation" and not just "to put out a certain fire".
Introducing fresh legislation to handle a certain case would send "an undesirable message to investors. They expect that the environment should remain predictable, stable and with laws changing seldom", the expert warned.
He stressed a solution cannot be modeled after a European example, as states there lately suffered "banking crises of a systematic character".
The economist cited the situations in Cyprus and Belgium, where a number of banks were saved, to point every crisis in Europe had different financial roots.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Ecuador has officially abandoned its plans to send Soviet-style weapons to the United States, which were intended for transfer to Ukraine, citing its stance on international armed conflicts
Amidst the geopolitical repercussions of ongoing war in Ukraine, the Eurasian connectivity is again in focus
Barely two weeks into 2024, tensions on the Korean Peninsula are rapidly escalating, as IFIMES Institute was periodically writing
The world has undergone a profound transformation, and a new geopolitical phase has started
We are steadily approaching the beginning of the third year of the war in Ukraine, referred to by the Russian side as a Special Military Operation
The foundation of the leftist movement in Greece is the SYNASPISMOS coalition, which was established in 1991. SYNASPISMOS was also one of the founders of the Party of the European Left (PEL) in Rome in 2004
Norwegian Inspiration: Bulgaria's Move Towards Environmentally Friendly Prisons
Nexo Is Suing Bulgaria For Over $3 Billion