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Sunday, June 29, 2014

Bulgarian leaders appeal for public calm after bank runs

Bulgarian President Plevneliev arrives to deliver a statement in the Presidency in Sofia By Gareth Jones SOFIA (Reuters) - Bulgaria's leaders have appealed to citizens not to panic and withdraw their savings when banks reopen on Monday, following runs on two major lenders that have raised concerns for the Balkan country's financial stability. The runs on Corporate Commercial Bank (Corpbank) and First Investment Bank, Bulgaria's fourth and third largest lenders respectively, pose the biggest challenge for the European Union's poorest member state in nearly two decades. The central bank has said there is a deliberate and systematic attempt to destabilize Bulgaria's banking system and has vowed to take all measures to protect citizens' savings. There is no banking crisis, there is a crisis of trust and there is a criminal attack," President Rosen Plevneliev said on Sunday after more than four hours of emergency talks with the leaders of Bulgaria's main political parties and central bank officials.




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