Bulgaria Needs to Join SSM - Nominee for BNB Chief Manolov

Bulgaria Needs to Join SSM - Nominee for BNB Chief Manolov

Bulgaria should keep its currency board system until adopting the euro, and join the EU’s Single Supervisory Mechanism (SSM) immediately after Bulgarian banks pass stress tests, a nominee for a new chief of the country's central bank said on Thursday.
"The central bank should be an active participant in Bulgaria's accession to the eurozone," Biser Manolov said during hearings at the parliament’s budget and finance commission.
Manolov has been nominated by the Reformist Bloc, the junior partner in the coalition government led by Prime Minister Boyko Borisov. He was one of the four nominees for the post of Governor of the Bulgarian National Bank (BNB) who presented their strategies for the future development of the central bank before the commission on Thursday.  
Eurozone membership will decrease reputational risk for Bulgaria’s banking system and will improve the coordination and quality of banking supervision as well as access to information and funding conditions, Manolov said.

Previous Next
Close
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.