Bulgaria Wins Balkan Prize
Every country aims to lower inflation, unemployment and lending rates, while increasing gross domestic product (GDP) per capita. Through a simple sum of the former three rates, minus year-on-year per capita GDP growth, I constructed a misery index that comprehensively ranks 89 countries based on misery. The table below is a sub-ranking of all Balkan states presented in the full index.
All of the Balkan states in my index suffer from high unemployment and relatively high levels of misery.
That said, the least miserable Balkan country is Bulgaria. For all of its problems, including a recent bank run, the country’s currency board system - which I, as President Stoyanov’s adviser, helped design and install in 1997 - provides monetary and fiscal discipline, and produces positive results in a region plagued with problems.
- » NY Times: As Support for EU Flags Elsewhere, Bulgaria Sees Its Benefits
- » DW: German Businesses Prefer Trade with Bulgaria over Investment
- » The Economist: Bulgaria, Moldova Presidents 'Less Pro-Russian Than Advertised'
- » AFP: Bulgaria's Radev 'Struck a Chord by Attacking the Status Quo'
- » Politico: Bulgaria May Veer Shaprly Back into Moscow Orbit after Presidential Vote
- » Bulgaria's Radev 'Benefited from Popular Resentment against Coalition' - FT
This fucking clown always has the same disclosure in every article he writes: the country’s currency board system - which I, as President Stoyanov’s adviser, helped design and install in 1997
You're getting old Hanke, and your currency board has only created more misery and stagnation for Bulgaria. If Bulgaria had a free floating currency like Romania it would have been out of this recession a long time ago.
And there's no euro entry on the horizon - and by that i mean the next 20 years.
So to sum it up, FUCK YOU HANKE. Thanks for destroying this country.