"I often get into arguments with colleagues, could it have be saved KTB? After all I know about KTB, I don't think she could have been saved. What we found is that KTB was not an authentic banking project, but a fund to finance high-risk, high-exposure, and often related-party projects. However, they are financed with people's deposits, which is absolutely prohibited.
In the EU understanding of banks, this is prohibited. This was the big problem of KTB and the other is that the speed of growth of this project was really unstoppable. There was no way it could be contained in time. It would collapse due to a lack of moderation in the growth of these risky practices."
This is what Georgi Ganev told BNR on the occasion of ten years since the bankruptcy of KTB.
The authors of the project and the institutions
"My worry is that at least one of the two players, Delyan Peevski, didn't know it was going to happen to the bank like this, while the other – Tsvetan Vassilev, from one moment he certainly began to understand what was going on. To my great regret, one of the institutions responsible for what happened to KTB is the BNB.
We also have a failure in the courts, we remember how they served the "KTB project", even the "Della halkaki" against journalists who write about KTB. We have a failure of the media and the CEM regulator. We also have the failure of the Prosecutor's Office, which, according to our investigations, had sufficient grounds to start timely investigations against certain people," added the economist.
Delian Peevski, Obama and Putin are not in the case
"Well, we only know that it exists, but a lot, a lot, a lot. Including, we have first-person testimonies of people who say – I enter Tsvetan Vassilev's office and Delyan Peevski is sitting at the desk. Something similar to what Hristo Ivanov said recently, that Delyan Peevski leads the meetings of the GERB management."
The metaphor of the conquered state
"And the above, but also rather the failure to investigate what happened. Because there are such kalpazans everywhere in the world and there will be them. Especially in the financial system, there will always be crooks who will cause trouble. The point is that they will be caught eventually and justice will be served, there will be some justice. In the USA, we know what happened to such scumbags, but here there is no such thing."
The Denkov government, regulators and KTB
"The connection is precisely in the regulators, because they are part of the unchanged landscape from the time of KTB to today. But for the removal of the cabinet "Denkov" the decision was entirely Borisov's. He really at one point had to choose or continue the assembly within the "Denkov/Gabriel" cabinet, which meant continuing to work on changing the people who work in the regulators. This brought risks for Mr. Boyko Borisov. Imagine a situation in which one of the replaced in the regulators thinks of reopening one of the cases, the so-called "gate" against him. This is a big life risk for Mr. Borisov. He had to choose either this or Delyan Peevski, who absolutely guaranteed him total inviolability of the body. And Borisov made his choice.
If we accept the leading value of the Euro-Atlantic world and Western civilizations, that the rule of law is above all, then Mr. Borisov and Peevski are not Euro-Atlantic at all, because they are fighting for a world opposite to the rule of law. They want there to be no rule of law, but above the law there used to be one, but now two people. Two persons that I call "the two pehlivanas". But the management, if there is a regular government, will not belong to Mr. Borisov, but to Mr. Peevski", Georgi Ganev also said.