Brussels, 25/09/2014 (Agence Europe) - On Thursday 25 September, the European Commission opened infringement proceedings against Bulgaria for its incorrect transposition of a provision of the “DGS” directive on the national deposit guarantee systems.
The Bulgarian legislation does not allow the country's deposit guarantee system to pay out on claims by depositors against a given bank unless the Bulgarian central bank has withdrawn its banking accreditation from that bank. However, such a...