Bulgarian Finance Minister Sees No Grexit Risk for Local Banks

“I don’t think there are any risks for Greek bank subsidiaries in Bulgaria” from Greece’s possible exit from euro area, Finance Minister Vladislav Goranov tells reporters in Sofia.

  • Bulgaria has experience in dealing w/ bank problems “and this is not a subject”
  • Dimitar Radev’s nomination is “most successful for” ruling party Gerb; Radev will gather “enough political support”
  • Finance Ministry will introduce next wk draft law for restructuring of financial institutions that complies w/ EU rules; it will outline methods and time table of their asset quality assessment
  • NOTE: Bulgaria May Vote Radev as Central Bank Chief in 1 Month
  • NOTE: Greece Vows to Hold Out Another Week as EU Aims to Seal Deal Link

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