Bulgaria Averts a Bank Run (Barely)

Five people were arrested Sunday for allegedly sending text messages containing false information about Bulgaria’s banks as a more serious bank run was averted after the government offered a credit line to calm frayed nerves. Bulgaria’s banking system destabilization averted The Associated Press is reporting that five people were arrested Sunday for using text messages, e-mail and even old school phone calls “to spread false information that caused detriment to commercial banks and destabilized the banking system.” On Friday banks had to close their doors early in Europe’s poorest country due to a run on the banks, but on Monday the…