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Posts Tagged ‘bulgaria’

EU’s Poorest Country Smacks Down Euro As Bulgaria Refuses To Join

September 4, 2012 2 comments

04 September 2012

‘If one needs a shining example of why the days of Europe’s artificial currency are numbered, look no further than the EU’s poorest country which moments ago said “Ne Mersi” to the Eurozone and the European currency. From the WSJ: “Bulgaria, the European Union’s poorest member state and a rare fiscal bright spot for the bloc, has indefinitely frozen long-held plans to adopt the single currency, marking the latest fiscally prudent country to cool its enthusiasm for the embattled currency.

Speaking in interviews in Sofia, Prime Minister Boyko Borisov and Finance Minister Simeon Djankov said that the decision to shelve plans to join the currency area, a longtime strategic aim of successive governments in the former communist state, came in response to deteriorating economic conditions and rising uncertainty over the prospects of the bloc, alongside a decisive shift of public opinion in Bulgaria, which is entering its third year of an austerity program. “The momentum has shifted in our thinking and among the public…

Right now, I don’t see any benefits of entering the euro zone, only costs,” Mr. Djankov said. “The public rightly wants to know who would we have to bailout when we join? It’s too risky for us and it’s also not certain what the rules are and what are they likely to be in one year or two.”’

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Seven Israelis Killed, Dozens Injured in Bulgaria Bus Explosion


Thursday, 19 July 2012

‘The explosion occurred on Wednesday at Burgas International Airport on the Bulgarian Black Sea Coast, about 400 kilometers (250 miles) east of the Bulgarian capital Sofia, the Israeli daily Haaretz reported.

“There are six bodies on the scene — one critically wounded died at the hospital and two seriously injured are in intensive care. Thirty more people are being treated,” the Israeli Foreign Ministry announced in a statement. The death toll is expected to rise as more than 40 other people were reportedly on the bus when the incident took place, Bulgarian officials said.’

Read more: Seven Israelis Killed, Dozens Injured in Bulgaria Bus Explosion

Russia Warns to Counter NATO Missile System in Europe


Wednesday, 23 May 2012

‘Speaking at a press conference in the Russian capital on Monday, Bordyuzha said NATO’s plan to set up the missile defense system in eastern Europe would escalate tensions and damage the international security and strategic stability in Europe and across the world, IRNA reported on Wednesday.

The Russian official reiterated Moscow’s objection to the deployment of the missile defense facilities near its borders, saying the move would threaten the country’s national security. He also questioned the need for NATO and US-led military build-up in Bulgaria, Romania and the countries surrounding the Baltic Sea.’

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