That is a condition for Bulgaria to apply for the waiting room of the Eurozone

The Bulgarian state and an anonymous party participated in the auction and acquired 70% of all 110 million securities, which allow raising 100 million euros from First Investment Bank - Fibank. The capital increase is a condition for Bulgaria to apply for the waiting room of the Eurozone - ERM-II. 

“The bank system is extremely important to us”, Prime Minister said at the Council of Ministers’ meeting on Friday.

He added he held a phone conversation with the Executive Vice-President of the European Commission for a Europe Fit for the Digital Age and Competition Margrethe Vestager. “She congratulated Bulgaria for all we negotiated with the European Central Bank and the World Bank”, Borissov said.

He emphasized that Bulgaria should enter the European Banking Union as it would guarantee the stability of all banks in the country.