Caretaker Government Faces “Raft of Problems” - Reuters
The caretaker government of law professor Georgi Bliznashki appointed on Tuesday “inherits raft of problems to sort out”, Reuters noted in its coverage of the news.
According to Reuters, the most pressing problem facing the caretaker cabinet is “the fate of Corporate Commercial Bank”, KTB. Bulgaria’s fourth-largest bank remains closed since June 20 following a run on deposits and political parties are in disagreement to “what extent the bank's depositors and bondholders will be protected in a possible state rescue”
Other problems include sluggish economic growth, a diplomatic row over the South Stream gas pipeline and a sovereign credit rating downgrade in June.
Last week, Reuters reported that holders of USD bonds at KTB are planning to sue the government if the bond defaults and KTB is tipped into insolvency.
- » Bulgaria Justice Ministry Uploads Judicial Reform Proposal
- » Blast Rocks Ukraine President's Confectionery Chain Store
- » Bulgaria Justice Minister to Unveil Judicial Reform Proposals
- » Bulgaria’s Parliament Sets Up Ad Hoc Committee on Draft Constitutional Amendments
- » Bulgarian Government Establishes National Anti-Corruption Council
- » Bulgarian Socialist Opposition Refuses Heading Constitutional Changes Committee