You can support this call by signing our petition at this link. You can download this call as a separate document at this link. The currency board and the stability of the leva provided the basis for everything we have managed to build in the economic field in Bulgaria over the past 23 years. For this …
More »Opinion of EKIP against the amendments to the BNB law
To the Chairman of the Committee on Budget and Finance of the National Assembly The Minister of Finance of the Republic of Bulgaria The Governor of the Bulgarian National Bank OPINION By Stoyan Panchev In his capacity as Chairman of the Expert Club for Economics and Politics - TEAM DEAR MADAM CHAIRMAN, DEAR Mister MINISTER, DEAR Mister GOVERNOR, …
More »What did the ECB stress test show about the state of banks in our country?
Let's be honest: the way the Bulgarian media covered the latest stress test and conveyed the information presented by the ECB in the official press release was contradictory. The articles in some media were of the type "The stress test showed that the banking system is stable", while the text itself contradicted the headline by saying that ...
More »The way out of the crisis is to close the FSC
Author: Martin Nikolaev One of the previous chairmen of the Financial Supervision Commission and a manager of part of the largest financial and industrial group in the country stated that "today the FSC finally died". The committee, scattered in terms of competence and already completely seized by politics, is truly experiencing its hardest days. And instead of this senseless agony to ...
More »The problem with deposit protection
The case of the bankrupt Corporate Commercial Bank (CCB) and the banking panic that hit First Investment Bank give us reason to return to some of the basic problems of the modern form of banking[1]. And especially after the announcement of the idea of paying out all deposits (even amounts exceeding 100,000 euros) in CCB, not …
More »How did the BNB arrive at the magic number of BGN 3.7 billion?
The BNB's ambitious plan to save the banking system actually raised more questions than answers, and the end result was more confusion than relief. To top it all off, on July 14, the media reported the magic number of BGN 3.7 billion – the amount that would be needed to implement …
More »Guest article: Bank hail
Iliya Lingorski* According to Tsvetelina Dimitrova from the Executive Agency for Hail Control, radar stations in Europe provide information every 4-5 minutes. “But you can’t say how the cloud will develop at the beginning, and when it is already certain what is coming, there are 10 minutes left until the beginning. Can you imagine …
More »Why a rumor can bring down an institution like CorpBank (or Fibank)
The Governor of the Bulgarian National Bank told the media today that Corporate Commercial Bank is not bankrupt. Not that we can expect another statement from an institution created to save banks from the effects of the credit expansion they generate, but we should note that there is some truth in his words. Without …
More »What the Consumer Price Index (Doesn't) Tell Us
Very soon, the NSI released the inflation data for 2013, which were interpreted on the same day on BNT in the following way: "We have recorded the lowest annual inflation in 23 years. According to the National Statistics Office, this is a deflation of 1.6 percent." [1] It turns out that the data is for December...
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EKIP– Expert Club for Economics and Politics A Different Opinion