Construction companies, their suppliers and other logistical support affiliated firms in the construction sector have given the entire banking sector an ultimatum – "we will withdraw money from the banks if no measures are implemented by the government to combat the financial crunch made worse by inept banking policies".

"If the central bank does not act with adequate measures in light of the financial environment, if they don't implement coherent financing and refinancing measures, we will ask all our members in the Chamber of Bulgarian Constructors to withdraw their resources from the banking sector," states the declaration. This was approved by the managing board of the Chamber of Bulgarian Constructors, the CBC, municipal branch in Haskovo, dated February 4 2009, Stroitelstvo Gradut reports.

The declaration is signed by 57 "high ranking members" and 106 companies, listed on the central professional register in Bulgaria. Alexander Kirimov, head of the CBC in Haskovo, said that the document has been released simultaneously to Prime Minister Sergei Stanishev, the National Assembly, the Ministry of Regional Development, the Bulgarian National Bank, the European Commission and other organisations.

"The failure of the government and financial institutions to act at a time of financial stagnation has severely undermined the Bulgarian construction business, firms and their employees who are forced to accept work without any form of employment security benefits for the future," the declaration claims.

Furthermore, "trade banks are inadequate when it comes to releasing credit to companies from the construction business. In the middle of this financial crisis, interest rates are being raised disproportionately, so making the conditions for obtaining credit even worse. The advertised credit conditions bear no relation whatsoever to the reality of the situation," the declaration continues.