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Bulgaria Employers Call on FinMin to Withstand Bank Pressure

Date: 22.03.2010

Employers from the Economic Initiative Union have queried whether Finance Minister will be able to withstand pressure from commercial banks over the joint anti-crisis plan put forward by unions and employers.

According to the EIU the commercial banks will not like some of the measures put forward in the plan and thus will put pressure on Djankov to exclude them.

The EIU believes that a number of commercial banks will be strongly opposed particularly to the proposals regarding strengthening the Bulgarian Development Bank (BDB).

The proposals include increasing the capital of BDB and Interaction of the BDB in the branch network of the Bulgarian Post Office.

The EIU statement concluded by asking Djankov which 20% of their proposal he had not approved and also called on him to show strong political will regarding the government’s forthcoming anti-crisis plan.

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