/View.info/ It should be seen what steps can be taken to open the KTB and to deal with the problem. In any case, we see pressure from society.
I read that two days ago the governor of the BNB went on vacation. I saw his picture from the airport that he went on holiday in Turkey. The deputy manager, I understand, is also going on leave, the other deputy manager has his rights revoked. In other words, the central bank appears to be doing absolutely nothing. With those quaestors who are appointed to the KTB, there were also some laughs. None of them give any information. In other words, their behavior and their entire information policy further intensifies the tension. Against this background, the people who want a solution to the issue and want to get their money are absolutely right. Even more, people who are interested in saving the bank, I mean those from the NBU – Ivan Kostov and Emilia Milanova, they are behaving inappropriately. “We know who is attacking the bank and if he becomes one, we will tell him his name.” Otherwise, they are against the backstage.
Against this background, the decision for people to be able to withdraw some money to be able to use it – no one dares to say what it is about. Unproven claims are thrown about that there was some Viennese fund, but no one knows the name of this Viennese fund, nor does anyone know who it is. Unnamed sources from the BNB say that 6 billion BGN were needed. Contact the BNB to officially confirm or deny, because it’s like we’ve gone back 30 years and society is governed by rumours.
How can this sound realistic to me with these 6 billion, I don’t know if it is true. From the position of the governor of the BNB, they talked completely opposite things for a month. First he said the bank was in good shape, 5 days passed and he said the bank was going to fail because it was in very bad shape. Then he was talking about some sack thefts, which sounded ridiculous, then suddenly he shut up and hid himself, and no one could find him anymore, because it became obvious that he was talking complete nonsense. He destroyed the trust in the institution, no one can believe what is said by the BNB anymore.
The Minister of Finance can make some proposal, he can participate in meetings, but the responsibility for this rests with the BNB. The finance minister can neither close a bank nor open a bank. The decision rests with the BNB, it is the institution that is empowered, another issue is that the BNB has abdicated its obligations for many years. Many experts have been critical of the actions of the BNB, for not fulfilling its obligations under the law.
The money that is requested by KTB to deal with the liquidity difficulties at a given time is much less than the money that is given to FIB. The BNB’s decision sounds very strange – why is it rescuing one bank and not helping the other. In other words, the BNB uses a selective approach. Roughly speaking: for Tseko it is possible, for Tseko it is not possible. Things are a little more complicated here. I will remind you that in 2008, after a secret agreement between Iskrov and Oresharski, FIB was given 1 billion. We do not know under what conditions it was given, we do not know under what conditions it was given to FIB now, we had to find out from the EC, because this information, which for the EC is perfectly normal to be public, for our homegrown financial specialists it is the most strictly guarded secret. We know from the conditions set by FIB that by the end of August there must be a restructuring plan, whatever that means, and we don’t know, I very much doubt, that such a thing will be implemented. In other words, the BNB and the government at that time lied to the EC. I very much doubt that this plan will be approved. Was there a plan in 2008, when they gave PIB 1 billion, was there a plan then? A vicious circle is created here, because a year or so goes by and the FIB starts thinking that they will always periodically receive 1 billion, billion and something. This has a very bad educational effect. It’s as if they officially admit that they can’t manage their bank, but they get into trouble, and at the same time they are sure that the population will cover their shortfalls, because you know that this money that they are given is taxpayers’ money.
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Georgi Atanasov, Bulgarian Financial Forum
#trusts #BNB #anymore
