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Image header Agence Europe
Europe Daily Bulletin No. 11163
Contents Publication in full By article 20 / 37
ECONOMY - FINANCE - BUSINESS / (ae) banks

Bulgaria under fire over deposit guarantee

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deposit guarantee system to pay out on claims by depositors against a given bank unless the Bulgarian central bank has withdrawn its banking accreditation from that bank.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...

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