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.
- » Police Found 6 Tons of Amphetamine at a Port in Varna, Bulgarian Seaside
- » Large Tree Fell on a Car on a Busy Street in Plovdiv
- » Hail and Rain in Lovech, Firefighters Pull up Cars
- » Another 12 Hospitals in Bulgaria Are Facing Bankruptcy, Ombudsman Maya Manolova Said
- » Counter Campaign: Publishing House Asks if we Value Gambling more than Culture (Video)
- » On 24 May Balchik Opens a Monument to Cyril and Methodius