Send to Kindle
Photo by EPA/BGNES
The Greek government announced Monday it will have to nationalize the two largest banks in a bid to stabilize them.
The National Bank of Greece and Eurobank Ergasias will have to go under the control of the state Fund for Financial Stability, after restructuring talks failed.
It was hoped that the two banks could be merged and recapitalized with funds gathered by their own board.
In February the National Bank purchased Eurobank, but the merger procedure has not been completed and is now frozen.
The central Bank of Greece assured that recapitalizing the bank will go in order and is expected to be completed by end of April.
In Bulgaria, the National Bank of Greece owns the United Bulgarian Bank, while Eurobank Ergasias owns Postbank.
The Greek government was pressed by the so-called troika of international creditors - the European Commission, IMF and World Bank - to urgently resolve the situation with the two banks.
A recent analysis by StartupBlink highlights that Bulgaria offers a more favorable environment for startups than Greece, according to the Greek media Kathimerini
At least 14 people have died after a migrant speedboat collided with a Greek coastguard patrol vessel near the eastern Aegean island of Chios, according to Greek authorities. The incident occurred at sea, prompting an immediate large-scale search and resc
Greek national security agencies have launched an investigation into the growing number of land and property acquisitions in Northern Greece by citizens from Bulgaria and Turkey
The Managing Director of the International Monetary Fund, Kristalina Georgieva, emphasized that Bulgaria’s economy continues to perform strongly despite ongoing political uncertainty.
In Northern Greece, nationalist groups have expressed concern over the growing number of properties being purchased by Bulgarian citizens
Greek Prime Minister Kyriakos Mitsotakis emphasized Greece’s commitment to a unified European stance while speaking with national media following a leaders’ meeting in Brussels.
From February 1, 2026, Bulgaria officially completes its transition to the euro, which now serves as the country’s sole legal currency.
Bulgaria is facing rising living costs, with service prices still climbing, according to economists. Authorities have already flagged the most frequent violations of the Law on the Euro since the start of the year, largely in the form of unjustified incre
Bulgaria is moving forward with the transition to the euro, preparing to produce its first euro banknotes under the quota assigned by the European Central Bank.
Bulgaria is set to issue a new batch of government bonds, with the Ministry of Finance confirming preliminary terms for an upcoming auction through the Bulgarian National Bank
The consolidated fiscal program (CFP) for 2025 closed with a deficit of BGN 6,828.3 million (approximately EUR 3.49 billion), representing 3.1 percent of the projected gross domestic product.
Over the past two years, Bulgaria has imported coins from Estonia totaling 70.15 million euros
Novinite 2025 in Review: A Year That Tested Bulgaria and the World
A Disgraceful Betrayal: Bulgaria's Shameful Entry into Trump's Board of Peace
