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| The Financial Crisis Will Not Affect Banks in Southeastern Europe |
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Monday, Oct 06, 2008 |
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The results of the financial crisis in the USA will be restricted and will not have a direct effect on bank systems in Southeastern Europe.
This was the position of central bankers from Serbia, Romania, Bulgaria, Monte Negro, Macedonia, Cyprus, Albania, Greece and Bosnia and Herzegovina after their third meeting in Sofia.
There are no investment banks in the region, only commercial ones, the manager of Bulgarian National Bank Ivan Iskrov pointed out.
According to him in this part of Europe there are no banks, holding securities in their portfolio of the type, which created problems in the USA. The crisis, however, may have an indirect effect, in the form of price increase of loan interests - an average of 1.5% in the region, Iskrov added. |
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Source:
news.bg
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