site.btaSofia's Money Stays in Municipal Bank Due to Proposal by Continue the Change Councillor, Says Deputy Mayor for Finance

Sofia's and its residents' money remains in the Municipal Bank for now because of a proposal by a municipal councillor from Continue the Change to postpone the Mayor's report on changing the servicing bank, Sofia's Deputy Mayor for Finance Ivan Vasilev wrote on Facebook. He also posted a photo of the vote in the Budget and Finance Committee of the Metropolitan Municipal Council.

Vasilev underlined that the Mayor submitted the report with the proposal a week and a half before the City Council session, which gave enough time for discussions if there was interest for such.

"Don't be fooled by the name - it is a private bank, not owned by the City. At the moment, every lev from Sofia's nearly BGN 3 billion budget passes through the Municipal Bank, as well as the funds of the borough administrations and other budget allocators. [Movement for Rights and Freedoms Floor Leader Delyan] Peevski's shadow lurks behind the ownership of the Municipal Bank and this is known in the public space," the Deputy Mayor stressed. He added that "a CC councillor thinks the report is premature and suggests that it be shelved".

"How convenient for the apparent economic majority - to also have such sleeper cells among the CC councillors to act whenever they are told," Vasilev commented.

Another meeting of Sofia Municipal Council's Standing Committee on Finance and Budget has been scheduled for Thursday, 24 July.