EU Ambassador to Georgia Carl Hartzell has termed the developments around TBC bank as crucial.

However, the Ambassador said he would be cautious in his comments as it is an unfolding process.

“It is a systemic bank and the issues like financial stability are matters that we take very seriously, as part of the work that we are trying to do with the government. With regard to the decision taken by the National Bank, I think it would be imprudent for me to comment on this decision as part of the supervisory powers of the National Bank. So basically saying, we will continue to follow this case closely”, Carl Hartzell said.