Text size

Due to ERM-2, the Bulgarian state acquires 26% of a private bank

published on 6/11/20 8:21 PM

Photo: EPA/BGNES

The Bulgarian state and an anonymous party participated in the auction for 110 million securities, which allow raising 100 million euros from First Investment Bank - Fibank. The capital increase is a condition for Bulgaria to apply for the waiting room of the Eurozone - ERM-2.

Bulgaria's Minister of Economy Emil Karanikolov has confirmed the purchase, but did not specify in what form it was done. The procedure will be coordinated with the European Commission, because it is a form of state aid. The auctions took place yesterday.

I will have a conversation with Commissioner Margrethe Vestager to make sure that absolutely everything is fine with the Banking Union, said Prime Minister Boyko Borissov. He clarified that the Bulgarian government will support Fibank in order to remove the last obstacle for Bulgaria's accession to ERM-2.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria News ERM 2 Eurozone Fibank First Investment Bank securities

More from category

Market Links survey: 6 parties and coalitions enter future parliament

If the general elections were to be held at the beginning of October, 6 parties and coalitions would enter the Bulgarian parliament, a Market Links poll, commissioned by bTV shows. GERB/SDS would earn 23.1% of the votes, followed by We..

published on 10/4/24 9:52 AM

Dzheyhan Ibryamov’s wife Birshen declared a hunger strike until his release

Dzheyhan Ibryamov’s wife declares hunger strike

Charges of trading in influence are to be brought against Dzheyhan Ibryamov after decisions were made to strip him of his immunity from prosecution as member of parliament and as candidate for member of parliament in the upcoming election...

published on 10/4/24 8:53 AM

Scientists support schools with lessons on healthy lifestyle in urban environment

What is the noise level of an airplane engine or a hand drill, a normal conversation, the movement of a car at a speed of 60 km/h, in a disco, at a rock concert and which values are dangerous for people's health and the animals? The answers to..

published on 10/4/24 7:55 AM