Tsvetelia's Feed
Feb 27, 2015

Bulgaria to back new sanctions if Ukraine truce crumbles

SOFIA (Reuters) – Bulgaria will support a new round of sanctions against Moscow if pro-Russian separatists are found to have breached a peace deal agreed for eastern Ukraine, Foreign Minister Daniel Mitov told Reuters on Friday.

Sofia plans to send a humanitarian convoy of food and medicine to help ethnic Bulgarians caught up in the conflict, but the timing of delivering such aid would depend on when it is safe enough to send it, Mitov said.

Feb 27, 2015

Bulgaria to hold roadshow in March for Eurobond sales -sources

SOFIA, Feb 8 (Reuters) – Bulgaria plans to open a three-day
roadshow on March 16 for bond sales tapping global markets, the
proceeds of which will be used to roll over maturing debt and
cover fiscal shortfalls, two sources familiar with the
government’s plans said on Friday.

Bulgaria, one of the European Union’s least indebted states,
plans to raise a total of 6.9 million levs ($3.96 million)
selling the Eurobonds this year, after its fourth-largest
lender, Corporate Commercial Bank, collapsed in 2014.

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

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 17, 2015

Frenchman detained in Bulgaria denies Islamist militant links: lawyer

HASKOVO, Bulgaria (Reuters) – A French citizen arrested in Bulgaria for alleged links to the gunmen who attacked the satirical newspaper Charlie Hebdo, denies being part of an Islamist group and is ready to be extradited to prove his innocence, his lawyer said on Friday.

Fritz-Joly Joachin was detained by Bulgarian police at a border checkpoint as he tried to cross into Turkey in the early hours of Jan. 1 under a European arrest warrant that alleged he had abducted his three-year-old son – an accusation he denies.

Jan 15, 2015

Kerry pledges support to Bulgaria over energy supplies

SOFIA, Jan 15 (Reuters) – U.S. Secretary of State John Kerry
pledged to support Bulgaria’s efforts to wean itself off
dependence on Russian energy at the launch of an annual
strategic dialogue between the two NATO allies on Thursday.

Russia’s cancellation in December of a multi-billion-dollar
gas pipeline that would have benefited Bulgaria has highlighted
Sofia’s vulnerability to fallout from the West’s standoff with
Russia over Moscow’s role in the Ukraine crisis.

Jan 15, 2015

Kerry to give “big hug” to Paris after militant attacks

SOFIA (Reuters) – U.S. Secretary of State John Kerry said on Thursday his visit to France was to give a “big hug” to Paris after the deadly attack by Islamist gunmen on the satirical newspaper Charlie Hebdo.

President Barack Obama’s administration drew criticism from Republican opponents at home for not sending a senior figure to a unity march in the French capital following the shootings, and the White House later conceded that Washington should have sent a higher-level representative.

Jan 15, 2015

Kerry focus on energy, security, corruption in Bulgaria

SOFIA, Jan 15 (Reuters) – U.S. Secretary of State John Kerry
will encourage Bulgaria to rely less on Russian energy and to
tackle corruption on Thursday as the two NATO allies announced
the launch of an annual strategic dialogue.

The talks between the U.S. and Bulgarian foreign ministers,
whose focus will include security and energy, are intended to
demonstrate the U.S. commitment to helping Bulgaria resist
Russian influence.

Jan 13, 2015

Frenchman held in Bulgaria accused of several contacts with Paris killer – prosecutor

SOFIA (Reuters) – A French citizen detained in Bulgaria had allegedly been in contact several times with one of the two Islamist militants who shot dead 12 people at the offices of Paris newspaper Charlie Hebdo, a Bulgarian prosecutor told Reuters on Tuesday.

Fritz-Joly Joachin was detained by Bulgarian police at a border checkpoint as he tried to cross into Turkey in the early hours of Jan. 1, under a European arrest warrant that alleged he had abducted his three-year-old son – an accusation he denies.

Dec 18, 2014

Bulgarian regulator points to lapses in KPMG’s Corpbank audits

SOFIA, Dec 18 (Reuters) – A Bulgarian regulator said it had
found “significant gaps and inconsistencies” in the way KPMG
audited the books of troubled lender Corporate Commercial Bank
, putting renewed scrutiny on the country’s financial

Majority-owned by a Bulgarian businessman who was later
charged with embezzlement, Corpbank was hit by a bank run in
June that triggered the Balkan country’s worst financial crisis
since the 1990s and raised concerns about banking supervision.