Will Bulgaria Have a Stable Government After Yet Another Election in June? Our Readers Have Spoken
On our Facebook page, readers were asked about Bulgaria's stability after the June elections
By the Washington Times
Here's one way to boost an ailing economy: Bulgaria is offering citizenship to foreigners ready to invest at least USD 650,000.
Under a newly approved amendment, the candidates would have to invest in a Bulgarian company involved in a high-priority investment project in industry, infrastructure, transport or tourism.
The investors also are required to have had residence status in the country for at least one year.
Bulgaria, which joined the 27-nation European Union in 2007 and is the bloc's poorest member, is trying to reverse the severe drop in foreign direct investment from USD 8.5 B in 2008 to USD 2.3 B in 2011.
Bulgaria already is handing out passports to ethnic Bulgarians outside its borders, the main beneficiaries being citizens of Macedonia, Serbia, Ukraine and Turkey — countries with living standards at a fraction of the EU average that are years away from possible membership.
The latest amendments have been criticized harshly by the opposition, and it did not get unequivocal support from the presidency or the Justice Ministry, the two institutions that deal with the issue of granting citizenship.
According to media reports, the Interior Ministry and the security services also voiced concerns about potential risks to national security during a closed-door parliament committee meeting.
The political and economic instability in the Middle East following the Arab Spring revolutions could prompt wealthy citizens trying to escape the region's troubles to qualify for the citizenship-by-investment program.
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Brazen Bulgarian gangs "terrorise the elderly and rob them over their life savings with increasingly aggressive phone scams nettling millions of euros," according to an AFP story.
The prospect of US President Donald Trump's moving closer to Russia has scrambled the strategy of "balancing East and West" used for decades by countries like Bulgaria, the New York Times says.
Bulgarians have benefited a lot from their EU membership, with incomes rising and Brussels overseeing politicians, according to a New York Times piece.
German businesses prefer to trade with Bulgaria rather than invest into the country, an article on DW Bulgaria's website argues.
The truth about Bulgaria and Moldova's presidential elections is "more complicated" and should not be reduced to pro-Russian candidates winning, the Economist says.
President-elect Rumen Radev "struck a chord with voters by attacking the status quo and stressing issues like national security and migration," AFP agency writes after the presidential vote on Sunday.
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