Tasoulas Wins Greek Presidency with 160 Votes
Konstantinos Tasoulas has been elected as the new president of Greece
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.
Boyko Borissov, leader of GERB, defended the government’s progress on Bulgaria’s path to the eurozone
Bulgaria could adopt the euro as its official currency from January 1, 2026, if it successfully meets the necessary criteria for joining the eurozone
The municipal councils in Kozloduy and Krivodol have become the first in Bulgaria to implement dual pricing for municipal services, taxes, and fees
Bulgaria’s draft budget for 2024 raises questions about its realism and whether it is a mere strategy to appease the European Commission and the European Central Bank
Parvomay Municipality in Bulgaria has become one of the first to prepare for the country’s euro adoption
Professor Steve Hanke, who established Bulgaria’s currency board, emphasized that the country should maintain the current system, as it continues to work effectively
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