German Minister: A New Financial Crisis Poses a Threat to the World Economy
The world economy is facing the risk of a new financial crisis, warned German Finance Minister Wolfgang Schauble, quoted by the electronic edition Politico.
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
New waves of migrants from countries like Bulgaria, Romania and Ukraine can be expected as a reaction should the West close markets and shut off capital flows, wrote the US based Newsweek.
According to the article if French President Sarkozy's vision of a protectionist Europe of subsidized companies and an unraveling single market prevails, it will mean the likely death of Eastern Europe's economic-development model of tying into the global economy via Western neighbors.
"Ultimately, though, the closing of markets and shutting off of capital flows will ricochet back to the West - via collapsing exports and defaulted loans, not to mention new waves of migrants from down-and-out countries like Romania, Bulgaria and Ukraine."
The article, written by Stefan Theil and William Underhill, argues that this is the first time in decades that not just European banks but entire countries could become insolvent.
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As Bulgaria inches closer to joining the Eurozone, concerns arise over the implementation of rounded prices in euros, potentially impacting citizens' wallets upon adoption of the single currency
On a briefing held at the National Press Club of BTA, Nikola Ilchev, the creator and organizer of the Balkan eCommerce Summit, showed projections indicating a significant rise in Bulgaria's e-commerce sector
The Ministry of Finance in Bulgaria has revealed that the process to facilitate the exchange of levs with euros in the country will come with a hefty price tag, estimated to be at least BGN 500 million
As Bulgaria steers towards adopting the euro, economists dispel concerns over potential price increases, assuring the public that the impact on inflation will be minimal
The Ministry of Finance has released a draft law for public discussion concerning the adoption of the euro in Bulgaria. The primary aim of the proposal is to ensure a smooth and transparent transition to the European currency
The latest data released by Eurostat, the official statistical office of the European Union, reveals that Bulgaria continues to grapple with the lowest purchasing power within the EU
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022