EU Financial Stability Facility Gets Top Credit Rating
The European Financial Stability Facility, which was recently boosted by EU leaders, received an AAA rating by the world's top three credit rating agencies.
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Business » Finance
Lifeline for Bulgaria Units of Greek Banks, UniCredit, Raiffeisen 'Under Threat'
Greek banks, UniCredit and Raiffeisen are expected to be among the major banks that will need to raise capital and resort to their units in Eastern Europe, including Bulgaria, to meet the EU required recapitalization ratio, experts have forecast.
EU Bank Recapitalization Rules Raise Bulgaria's Drain Ghost
The new rules on bank recapitalisation, adopted at the EU summit on Wednesday, have triggered fears of a bank drain in the subsidiaries in Eastern Europe, including Bulgaria.
Euro Zone Leaders Call on Italy to Avoid Greek Scenario
Euro zone leaders have asked Italy to Italy to take more rapid action on pension reforms and other structural measures in order to prevent the economy from following Greece's path.
Euro Zone Strikes Deal on 2nd Greece Bailout Package
Euro zone leaders reached a deal with private banks and insurers for them to accept a 50% loss on their Greek government bond as a part of the efforts to relieve the country's debt burden and contain the euro zone crisis.
Borisov: Bulgaria Won't Be Contributing Money to EU Measures against Debt Crisis
Bulgaria is not going to be contributing funds direct to the measures of the EU and the euro zone for overcoming the debt crisis, at least for the time being, Prime Minister Boyko Borisov announced in Brussels.
EU Leaders Strike Deal for Bank Recapitalization by June 2012
The leaders of the 27 EU member states have agreed to force banks to raise more capital by June 2012 as a countermeasure against potential losses from a restructuring of Greece's debts and the wider financial crisis in Europe.
Italy Promises EU Urgent Reform Package to Stave Off Debt Crisis
Italian Prime Minister Silvio Berlusconi presented a package of economic reforms to the other EU 27 leaders in an effort to meet demands by France and Germany and to stave off a debt crisis in which Italy might end up as a "giant Greece".
IIF Offers New Deal to Euro Zone Leaders over Greece's Debt
International banks have made a new deal to euro zone governments over the Greek debt crisis in an attempt to reach an agreement about the losses of the holders of Greek debt, the Institute of International Finance said.
Bulgaria's Budget 2012 to Shrink Depleted Fiscal Reserve
Bulgaria's State fiscal reserve might shrink by BGN 2 B next year, according to the draft 2012 project discussed by the cabinet Tuesday.
Bulgaria PM Girlfriend Gains Control in Bulgarian-American Credit Bank
An investment firm led by Tsvetelina Borislavova has acquired a majority stake in Bulgarian-American Credit Bank (BACB) following the public offering of its shares.
Bulgaria Aims to Narrow Budget Gap to 1.35% in 2012
Bulgaria aims to have a budget deficit of 1.35% of gross domestic product, a growth of 2.9% and inflation of 2% in 2012, according to the budget draft for next year.
Berlusconi: Don't You Worry about Italy
Nobody should fear about the stability of Italy's economy and Italian finances, according to the country's Prime Minister Silvio Berlusconi.
International Bankers: Voluntary Private Sector Aid to Greece Has Limits
Charles Dallara, head of international banking lobby group, the Institute of International Finance (IIF), has spoken unenthusiastically about the euro zone push to get the private sector to share the burden on Greece's debt.
FinMin: Greece's Troubles Are Beneficial for Bulgaria
The financial and economic crisis, which is shaking neighboring Greece, is beneficial for Bulgaria, according to the country's Finance Minister, Simeon Djankov.
Bulgarian Govt to Discuss Draft Budget 2012 in Closed Session
Bulgaria's Council of Ministers will discuss draft Budget 2012 at a closed session on Monday, Prime Minister Boyko Borisov told journalists late on Sunday.
EBRD Encourages Bulgaria to Stay on Fiscal Discipline Path
Bulgaria's government and ordinary people live according to their means unlike other EU countries who were spending more than what they had available, which led to trouble for them.
EVN, E.ON, CEZ Bulgaria Units about to Launch IPOs
Bulgaria's government is expected to list in the next three months its 33% minority stake in the three power distributors in the country in a bid to enliven the local stock exchange and boost revenues.
Bulgaria Hopes to Sell 50.5% in Bourse in H1 2012
Bulgaria hopes to find an investor for its only stock exchange in the first half of next year, the bourse's chief executive has said though declining to reveal the names of potential bidders.
Bulgarian Experts Fuel Inflation Fears for 2012
Bulgaria's consumer price inflation has recently slowed down on the back of weak consumption, but prices are bound to increase next year, according to local analysts.
Bulgarian FinMin Happy-Go-Lucky about Growth in 2012
Bulgarian state budget for 2012 will stipulate a 2.8-2.9% GDP growth, stated Minister of Finance Simeon Djankov Tuesday evening.
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