/View.data/ This remark was written for “Gallery” in July 2014. Two weeks after the banking disaster and the session in query of the CSNS, the transcript of which was introduced by President Rumen Radev on Friday. I’m publishing it once more as a result of it appears to me undeserved to disregard the position of the BSP then. In contrast to 1996 its leaders in 2014 Sergey Stanishev and Mikhail Mikov (President of the Nationwide Meeting) saved the nation from monetary collapse. If the BSP had not then opposed the thought of a financial institution vacation, and Mikov had not refused to name a unprecedented session of Parliament to vote on this insanity (GERB and DPS have been already in an unstated coalition and had a majority), issues would have developed worst case situation attainable. I feel it is solely honest to say that and know.
And this week I’ll commit my commentary to the disaster surrounding First Funding Financial institution, which is about to show right into a normal banking disaster. And solely the enough reactions of bankers and rulers prevented the worst. Every week in the past, I described the position of Boyko Borisov, who tried to convey psychological destabilization via hysterical conduct within the media with the intention to take political benefit of the scenario. On the time, I believed he was simply enjoying his political recreation irresponsibly and making an attempt in an unscrupulous approach to extract dividends from a scenario.
At the moment, there was nonetheless no factuality and completeness concerning the particulars on the times of biggest pressure, particularly June 28 and 29.
Prior to now week, nonetheless, articles appeared within the newspapers “Capital” and “Banker” describing intimately the conduct of the political forces and the rulers, in addition to the administration of the BNB and the banking group in these two days, which might change the brand new historical past of Bulgaria, however fortunately that did not occur.
My examine confirmed that the data offered by the colleagues is nearly 100% right, and right here and there some trifles have been saved silent for political causes, which isn’t necessary. What issues is that this story was informed.
It is a disgrace that she did not get the right publicity on main tv and {that a} brief documentary wasn’t made about her, as it might have been in any regular nation. In order that as many individuals as attainable can perceive how their politicians act in disaster conditions and what’s extra necessary – which of those politicians trigger the disaster conditions.
That’s the reason I’ll retell very briefly and accessible what occurred, with the proviso that final time, I appear to have underestimated the deep malice and egocentric actions of Borisov and another politicians.
The timeline briefly:
* On Thursday, June 26, at midday, a rumor unfold that the financial institution of Tseko Minev PIB had an issue, which induced 1000’s of depositors to line up the subsequent day, June 27, in entrance of its branches in all cities of Bulgaria. In simply sooner or later, non-public depositors withdrew BGN 800 million from the financial institution.
By the night of June 27, Friday, in all attainable media, economists, politicians and establishments introduced that there is no such thing as a drawback with Bulgarian banks, and urged folks to not panic, as a result of their investments are in a secure place.
* On the morning of June 28 on all broadcast televisions, Boyko Borisov started to hysterically name for the instant resignation of Oresharski and for the pressing intervention of the IMF. As well as, for the tenth time he repeated the thesis from the day earlier than that “a mortgage of some 5-6 billion needs to be taken to assist the finances and the banking system”.
Boyko Borisov was the one politician who claimed that there was an enormous drawback and that the nation was in a extreme financial and monetary disaster. Final week I conceded that this was outrageous politicking and, to a terrific extent, obtrusive illiteracy.
After the publications in “Capital” and “Banker”, I noticed that Boyko Borisov labored in a very coordinated and cold-blooded method with the DPS to destabilize the nation and throw it into chaos.
* Saturday morning the twenty eighth a number of conferences are held with Prime Minister Oresharski, at which the thought of asserting a short lived financial institution vacation, i.e. closing all banks for just a few days. In apply, this might imply a complete collapse of the system and recognition of the administration of the existence of a disaster, which in apply didn’t exist.
Closing all banks implies that all banks have an issue, and after their opening, the queues in entrance of the FIB would enhance by 100, and in entrance of the branches of all of the banks within the nation. The information would go all over the world, and Bulgaria can be declared bankrupt with none actual purpose for it.
Discover who comes up with the thought for this financial institution vacation. DPS and GERB, supported by the top of the BNB Ivan Iskrov. They’ve tried a number of instances to push via this choice regardless of the repeated assurances of consultants and bankers that there is no such thing as a drawback within the banking system.
Right this moment it’s straightforward to speak about these occasions as a result of we didn’t take part in them and we’ve even a small distance. Think about what the scenario was like in actual time when the rulers needed to decide inside just a few hours and it was the fitting choice.
Though it seems straightforward from the surface, in actuality it was removed from the case, particularly after the stress from the DPS, GERB and the top of the BNB. The truth is, the individuals who opposed them have been the Speaker of the Nationwide Meeting Mikhail Mikov, the Finance Minister Petar Chobanov, the chief of the BSP Sergey Stanishev and virtually all of the main bankers within the nation.
It was unusual the conduct of Plamen Oresharski, who, regardless of his competence and experience, remained silent, slightly in assist of DPS and GERB. The truth is, on Saturday night the opinion prevailed for a short lived trip and the Cyprus choice: introduction of a every day restrict for withdrawals as much as 300 euros and for transfers overseas as much as 5,000 euros.
The favorable decision solely occurred the subsequent day, on Sunday, when Stanishev, Mikov, Chobanov, BSP deputy Rumen Gechev and representatives of the banks categorically opposed this concept, and the previous governor of the BNB since 1997, Svetoslav Gavriyski, instantly threatened , that he’ll seem in entrance of the media and expose the hellish plan of DPS and GERB, which, in line with him, led to an actual catastrophe.
Virtually the identical risk was made by the speaker of the parliament, Mikhail Mikov, who introduced that the choice on a financial institution vacation and Cyprus choice is absurd and that it’s primarily based solely on the frequent political curiosity of GERB and DPS.
Mikov has additionally threatened public publicity to the media.
It’s fascinating that Borisov’s so-called consultants, whom he bragged about, particularly Vladislav Goranov and Ivaylo Moskovski, have proposed that the financial institution vacation ought to final till new elections are held, which is a silly proposal, irrespective of the way you take a look at it. Essentially the most energetic in selling this concept have been the representatives of the DPS and the administration of the BNB.
This additionally explains the media exercise of Boyko Borisov on Saturday, who knew what was occurring within the authorities’s kitchen and how much stress cooker was about to blow up in it and was making an attempt to bundle and put together for the media the absurd choice for a financial institution vacation, which apply can be tantamount to an actual catastrophe.
And it might throw the nation into chaos.
Every week later, in his speech to the plenum of the BSP, Sergey Stanishev informed, albeit with out names, this story whatever the newspaper articles I discussed.
In it, amongst different issues, he says: “The stress within the banking sector was intentionally used to trigger a man-made political and monetary disaster that might collapse the state, the actual financial system and folks’s financial savings. The blame ought to have been positioned on the BSP.
We now have heard political leaders publicly suggesting that the state is bankrupt, collapsing and we’d like a financial institution vacation, whereas secretly wringing their palms that this can increase their election leads to the autumn. Furthermore, the plan was for Bulgaria to be positioned below an exterior protectorate and for the IMF to find out all our essential insurance policies – within the area of well being care, the pension system, funds. Every part! We have been one step away from realizing this situation. BSP can’t take part in such a recreation! Because the chief of the celebration, I couldn’t enable all political forces to unite in a coalition of irresponsibility, short-sightedness and nationwide betrayal.”
Stanishev’s phrases are confirmed by the publications in “Capital”, which can’t be suspected of sympathizing with the BSP chief, quite the opposite – it’s a newspaper of his political enemies.
From every part that has been mentioned thus far, it seems that the BSP, Finance Minister Chobanov and banker Svetoslav Gavriyski have saved Bulgaria from one other artificially induced disaster. It could sound paradoxical, however it’s a reality.
As well as, it should be mentioned that the actions of DPS, GERB and the top of BNB Iskrov can’t be characterised in another method than as legal and motivated by legal intentions.
In international locations with extra developed democracies and complicated laws, these folks can be delivered to justice, to not point out they might be out of politics as soon as and for all.
It’s proper that the Bulgarians lastly open their eyes and understand what is occurring, as a result of as soon as once more they might be deceived in probably the most brutal and legal method. And from the events which can be about to manipulate after the subsequent elections, particularly the coalition between GERB and DPS.
That’s the reason the info surrounding the occasions that shook our banking and political system round St. Peter’s Day needs to be recognized and remembered. In order that we will make an knowledgeable political alternative within the fall, and never vote as they inform us on TV.
Touch upon “Gallery”, printed on July 13, 2014.
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