BULGARIA’S PRESIDENT: THE BANKS ARE STABLE AND THE CURRENCY BOARD IS UNSHAKABLE

Readiness and determination to undertake measures to ensure stability of the banks declared the political parties after the consultations held in the Head of State’s office on 29th June. In his statement after 4 hours of talks, President Rosen Plevneliev said that the banks were stable, the currency board was steady and the Bulgarian lev’s exchange rate would remain preserved until the day Bulgaria adopts the Euro.

At the consultations, a consensus was reached on the issue regarding the early elections. The Parliament will be dissolved on the 6th August and by virtue of President’s Decree, an interim government will be appointed.

All political parties that took part in the meeting and the President declared determination to oppose the attempts for destabilization of the banking system and ensured that there were no reasons for concern.

The President appealed for public calm and said there were no reasons for panic as there was no banking crisis, but there was a crisis of trust and there was a criminal attack. They need to be overcome and those responsible be prosecuted to the full extent of the law, he said.

The President assured that the state had the resource to deal with the problem. He said that all the necessary measures as well as legislative changes were undertaken to support the banking system and financial stability. International markets have trust in our country, he said and added that we should trust ourselves and that the banking system in Bulgaria was stable, well-regulated and capitalized .

Regarding the early elections issue discussed during the meeting, the President said that the date for early general elections would be 5th October. The option of forming a new government within the current National Assembly was rejected. The timing of the resignation of the Prime Minister Oresharski will be consistent with the time required by the Constitution for conducting consultations and forming an interim government.

By virtue of President’s Decree, on the 6th of August 2014, 42nd National Assembly will be dissolved and interim government will be appointed.

The Head of State expressed his gratitude and said he was proud with the constructive approach adopted by the political leaders and the responsibility they showed to their mission.

The full text of President’s statement is available here :