Bulgaria's financial stability (BGN guaranteed convertibility and fixed exchange rate, fiscal balance and solid banking system maintaining high liquidity and capital adequacy ratio of all banks) is the groundwork of the national economy and an important prerequisite for the country’s sustainable development.
Self-interested political schemes, devious corporate interests and personal dealings threaten to destroy it today. All of us involved in the Bulgarian economy, employers and employed, will pay a dear price, will incur huge costs and heavy losses, if we allow the present financial stability, which it has been so hard to achieve, to be demolished.
Therefore, we strongly protest against the frequent attempts to undermine the confidence in the Bulgarian banks, to inculcate fear, to stoke panic by fabricating apocalyptic scenarios for imminent financial collapse and chaos in the country as well as by direct attacks against individual banks and economic groups. The campaigns against the banking system, launched by media, interest groups and political circles are inadmissible.
It is thoughtless and irresponsible to question the solvency of any bank, to foster and spread vicious rumors, to throw allegations in the air, in order to harm and damage a competitor or to wrong a political opponent. This destroys the trust in supervisory institutions such as the Bulgarian National Bank, the Financial Supervision Commission, the control and enforcement authorities of the state.
We demand that an end is put to all actions aimed at tarnishing and denigration of banks, companies and individuals, at vilifying institutions, at instigating malicious scandals and discord. We call on all political forces to conduct their campaigns for the upcoming early elections for the future 43 National Assembly MPs in a tolerant tone and a constructive spirit. And most importantly - to refrain from slandering the state and its public institutions.
In its 135 year history, the Bulgarian National Bank has proven its ability to guarantee the stability of the lev and to ensure the reliability of the banking system. It is no coincidence that it is the institution in which the Bulgarian nation has placed its highest confidence. We are confident that the supervisory and enforcement authorities of the country are able to guarantee the rule of law, the fiscal stability, the stability of the banking system, of all financial institutions and markets.
We require them to exercise relentlessly their authority and powers in order to thwart the abuses of democracy and freedom of speech to the detriment of the national economy and the prestige of the country. At the same time we expect all government bodies to exercise their competences honestly and vigorously, but discreetly and with respect for the dignity and integrity of every Bulgarian citizen and every entity.
