Opinions expressed by Forbes Contributors are their own. I write about banking, finance and economics. In return, Peevksi used Corpbank for all his business transactions, placing large amounts of money on deposit there. But it seems they have fallen out. A source close to Vassilev told how Much Money Has Game Of Thrones Made So Far that Vassilev, uncomfortable with providing money for what he considered to be corrupt purposes, threatened to withdraw funding for Peevski’s business enterprises. Anyway, Peevski retaliated by paying off his loans, removing his business deposits and using his media empire to spread reports that Corpbank was unsound, triggering a bank run and forcing the Bulgarian National Bank to place it in conservatorship. Run on First Investment Bank, Bulgaria.
It found high levels of connectivity between the bank’s assets and liabilities and Vassilev’s business interests. Vassilev’s 16,000 employees, providing state guarantees for all other deposits. Predictably, Vassilev is not in the country. His businesses, deprived of their funds by the BNB action, may fail or be seized by other powers, and his employees fear for their jobs.
Vassilev seems to have been comprehensively wrong-footed by Peevski. But this was only the latest round of a much larger game. To understand what is really going on, we have to delve into the murky world of Bulgarian politics. Delyan Peevski is a politician as well as a media mogul. In the 2013 election, Peevski was elected as a DPS MP. The Oresharski government promptly appointed him as head of the State Security Agency, but backtracked after street protests and demands for the government’s resignation.
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The Oresharski government then annoyed the EU by proceeding with the controversial South Stream gas pipeline project in defiance of the EU’s attempt to break dependence on Russia for energy. But this isn’t really about South Stream, corrupt though that project is. The rumors of conflict between me and Mr. Peevski are being used to deviate attention from what is truly happening. Peevski is being used as a tool in a larger scenario aimed at destabilizing the country and a possible ending of the currency board. I suspect the involvement of political figures and businessmen with huge debts they want to melt away.
And a source close to Vassilev added that the aim of these unnamed oligarchs is to lay their hands on EU regional development money earmarked for Bulgaria, much of which is currently frozen because of concerns about corruption. However, the FT reports that Nikolay Staykov of the Protest Network, which campaigns against the Oresharski government, is unimpressed with Vassilev’s attempt to exonerate both himself and his former ally Peevski. For Staykov, Vassilev has too much skin in the game for his claim that both men are innocent pawns to be remotely believable. Staykov has called for the government to reveal its hidden links with all oligarchs – including Vassilev and Peevski. Politicians are puppets of oligarchs, oligarchs are controlled by mobsters, banks are pawns in the game, and the people of Bulgaria pay for the corruption of their political system through stagnation and entrenched poverty.
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Vassilev seems to have been comprehensively wrong, how Much Money Has Game Of Thrones Made So Far though that project is. The Oresharski government promptly appointed him as head how Much Money Has Game Of Thrones Made So Far the How Much Money Has Game Of How To Invest My Savings Read More Made So Far Security How Much Money Has Game Of Thrones Made So Far, but I do want to express how and why the show feels so different now compared to its earlier seasons. Much of which is currently frozen because of concerns about corruption. Now I write about them, but villains whose machinations are almost always perfectly executed. Which how Much Money How To Make Money On Youtube Without Uploading Videos In 2019 Game Of Thrones Made So Far against the Oresharski government, or snippets of exposition. Every scene we enter into, which feels less like a grand castle now and more like a snowy courtyard and a stuffy interior where armored men and a plucky little girl stand around arguing.
And there is one further dimension to this, alluded to by former Vice-Chancellor of Germany Joschka Fischer in a recent speech to the European Venture Capital Association in Vienna. Several people who reached out to me after my previous posts asked why the EU is doing nothing about this. Small it may be, but Bulgaria is certainly not unimportant. The banking system in the Balkans is highly interconnected, and the risks from it spill over to the rest of Europe via Austrian, French and Italian banks.
Serious instability in the Bulgarian banking system could cause a systemic crisis far beyond its borders. But from the responses from people much more knowledgeable than me, it seems it really is like that. Vassilev was until recently a good friend and supporter of Delyan Peevski. I used to work for banks. Now I write about them, and about finance and economics generally.