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European Debt Crisis

The European debt crisis claims a new victim: Bulgaria

Stephen Beard Feb 20, 2013
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The government of Bulgaria has quit after nationwide protests against austerity measures.

After clashes between police and protesters became violent and bloody, Bulgarian Prime Minister Boyko Borisov submitted his resignation today in what has become the latest example of voters rising up against budget cuts and winning.

Bulgaria is the poorest country in the EU, with average monthly earnings of $550. However, it is not alone in its economic struggles and conflicts. Since the debt crisis began in Europe, governments have fallen in Spain, Greece, Portugal, Ireland and France.

“I don’t think that any of these government are actually in control of their own policies,” says Megan Greene of Maverick Intelligence, a consulting company which advises governments on economics and policy. “Even though the opposition will continue or increase, I don’t think these goverments really have any other choice.

To hear more about the rising opposition to austerity across the region, click on the audio player above.

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