Contagion from Bulgaria’s bank run is viewed as unlikely, but the crisis has put the spotlight back on eastern Europe’s financial sector.
The European Commission has approved a Bulgarian request to extend a credit line of $2.30 billion in support of banks.
Shares of Bulgaria's First Investment Bank fell more than 20 percent on Friday, as the central bank warned of an attempt to destabilise the country through an organised attack on the banking system.
Robert Manz, managing partner at Enterprise Investors, says that despite the weak data, positive trends are emerging from central Europe and that right now is an "excellent time" to invest there.
The euro zone has “no future” without reforms, the head of the Bank of Lithuania told CNBC ahead of his country’s accession.
The Ukrainian Prime Minister tendered his resignation on Thursday, after upbraiding fellow politicians.