What have you always wondered about the economy? Tell Us
European Debt Crisis

The European debt crisis claims a new victim: Bulgaria

Stephen Beard Feb 20, 2013
HTML EMBED:
COPY
European Debt Crisis

The European debt crisis claims a new victim: Bulgaria

Stephen Beard Feb 20, 2013
HTML EMBED:
COPY

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.

Marketplace is on a mission.

We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.

Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?

Your donation is critical to the future of public service journalism. Support our work today – for as little as $5 – and help us keep making people smarter.