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Feb 25, 2015

Bulgaria approves 8 bln euro overseas borrowing plan

SOFIA, Feb 25 (Reuters) – Bulgaria’s parliament approved a
government plan on Wednesday to raise 8 billion euros of new
debt through overseas bond sales over three years, even though
the scheme is opposed by one of the ruling coalition’s four
parties.

Prime Minister Boiko Borisov, who formed a minority
government after a snap election in October that produced a
fractured parliament, had hinted that he might resign if the
plan was not voted through.

Feb 13, 2015

Bulgarian coalition row stalls appointment of banking supervisor

SOFIA, Feb 13 (Reuters) – A row within Bulgaria’s ruling
coalition has stalled the central bank’s appointment of a deputy
governor to take charge of banking supervision, which in turn
could delay the country’s bid to join the EU’s banking union.

Central Bank Governor Ivan Iskrov nominated Dimitar Kostov
last month to take over the banking supervision department,
whose previous head Tsvetan Gounev was dismissed after a banking
crisis that culminated in Corpbank’s collapse in December.

Jan 29, 2015

Ambulance attacks open wound of Roma relations in Bulgaria

VRACHESH, Bulgaria (Reuters) – When Bulgarian doctor Irena Marinova arrived in an ambulance at the home of a pregnant Roma woman in November, she says she was beaten up by two men who accused her of being late.

The government blamed Roma for 175 such attacks on medics last year and in December told ambulances not to go to areas where they have previously been assaulted unless their safety could be guaranteed. The remarks reignited tensions with the impoverished community and pose a new challenge to Europe’s efforts to integrate its largest ethnic minority.

Jan 20, 2015

Bulgaria to extradite Frenchman linked to Charlie Hebdo gunmen

SOFIA/HASKOVO, Bulgaria (Reuters) – Bulgaria will extradite a Frenchman who was a business partner of the two brothers who shot dead 12 people at the satirical newspaper Charlie Hebdo’s offices in Paris, a court said on Tuesday.

Fritz-Joly Joachin has acknowledged his connections to the brothers and even played football with them, but he denies being part of an Islamist militant group. He is ready to be extradited to France to prove his innocence, his lawyer said.

Jan 8, 2015

Bulgarian regulator to fine KPMG over Corpbank audit

SOFIA (Reuters) – A Bulgarian regulator said on Thursday it will fine the global accounting firm KPMG and two of its employees, saying they did not properly vet the books of Corporate Commercial Bank before it was hit by a run on deposits.

KPMG did not have any immediate comment.

Corpbank, majority-owned by a Bulgarian businessman who was later charged with embezzlement, was hit by a bank run in June, triggering the Balkan country’s worst financial crisis since the 1990s.

Dec 12, 2014

S&P cuts Bulgaria’s rating to junk on bank crisis

SOFIA, Dec 12 (Reuters) – Credit agency Standard & Poor’s
cut its sovereign credit rating on Bulgaria to below investment
grade on Friday, due mainly to widespread weakness in a domestic
banking sector hit by runs on two lenders in June.

S&P, which cut its rating from BBB-, the lowest investment
grade, to BB+, also cited the new government’s need to raise
debt to prop up local lenders. The ratings outlook was stable.

Dec 11, 2014

Bulgarian workers protest government’s pension reform

SOFIA, Dec 11 (Reuters) – Thousands of Bulgarian workers on
Thursday marched through the capital Sofia to protest against
plans to raise their retirement age, an early challenge to the
incoming government’s promise to push reforms.

Prime Minister Boiko Borisov’s minority coalition, which
came to power after a snap election in October, has proposed
raising the retirement age by four months for manual workers,
15,000 of whom are due to retire next year.

Dec 7, 2014

Steaua, the team with no name, win on surreal night

BUCHAREST (Reuters) – Deprived of their name, colours and emblem on a surreal night of football, Romanian champions Steaua Bucharest demonstrated unfamiliar weakness but kept their cool on Sunday to score in added time and beat lowly CSMS Iasi 1-0.

Romania’s most famous club, who were founded in 1947 as an army side, had their registration cancelled by Romania’s highest court on Wednesday after losing a battle over their trademark with the country’s defence ministry.

Dec 7, 2014

Soccer-Steaua, the team with no name, win on surreal night

BUCHAREST, Dec 7 (Reuters) – Deprived of their name, colours and emblem on a surreal night of football, Romanian champions Steaua Bucharest demonstrated unfamiliar weakness but kept their cool on Sunday to score in added time and beat lowly CSMS Iasi 1-0.

Romania’s most famous club, who were founded in 1947 as an army side, had their registration cancelled by Romania’s highest court on Wednesday after losing a battle over their trademark with the country’s defence ministry.

Dec 4, 2014

Fed-up Bulgarians get access to deposits at Corpbank

SOFIA, Dec 4 (Reuters) – Bulgarians began withdrawing
deposits at Corporate Commercial Bank on Thursday, more
than five months after a run on the country’s fourth-largest
lender triggered a banking crisis that left authorities
scrambling to restore trust.

Majority-owned by a local tycoon who was subsequently
charged with embezzlement, Corpbank saw more than a fifth of
deposits drain away in a week-long bank run in June, prompting
the central bank to seize control and shut it down.

    • About Angel

      "I'm a sports correspondent based in Sofia. Alongside writing about Bulgarian sport I help the Sofia bureau by covering politics, economics and culture."
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