Sofia. European Parliament and experts from the 28 EU member states reached an agreement for the introduction of new rules on who should suffer the financial blow in case of a bank collapse, BNR reports. European countries and institutions decided that member states will not compensate the losses of liquidated banks or pay for their restructuring anymore because the expenses are too heavy for the national budgets. According to the reached compromise the weight of bailing out banks will fall on shareholders and major deposit
Sofia. Four Bulgarian cities, including Plovdiv, Sofia, Varna, and Veliko Tarnovo, were shortlisted for European Capital of Culture in 2019, the European Commission announced, as quoted by Sega daily. The selection panel evaluating the applications met in Sofia between 10 and 12 December. The panel will meet again next summer to recommend which city will be the European Capital of Culture. EU Education Commissioner Androulla Vassiliou congratulated the four cities. She expressed her content with the great number of cities t
Beirut. Lebanon is expected to witness heavier rainfall Friday before much-awaited sunshine Saturday, according to the Meteorology Department at the Beirut airport, as fears this winter’s storm would result in massive damage and casualties have so far proven unwarranted.