Bulgaria Govt Resignation Panicked, Desperate Move - Socialist Leader

The resignation of Bulgaria's government is a panicked, desperate move, according to the leader of the major opposition Socialist party.

"Borisov knew that if he had not resigned, he would have been swept away by the protests, ever gaining in momentum," Sergey Stanishev said.

This government brought Bulgaria to the brink of civil war and that is unacceptable, said Stanishev.

"GERB had all the power in its hands, but behaved as if it is not the ruling party.

The Bulgarian Socialist Party was the last major political party to come up with an official statement regarding the shocking resignation of the country's center-right GERB government.

The largest Bulgarian oppositional party held a sitting at its headquarters, while other major political parties already commented on the news, with some of them calling for snap elections.

Bulgarian Prime Minister Boyko Borisov made the shocking announcement Wednesday that his cabinet is to resign en masse around noon.

The move follows a series of mass protest rallies against high electricity prices that morphed into wider discontent over austerity and the way the country is being run.

Borissov told MPs that his party would not be part of a caretaker government.

Bulgaria's Parliament will vote on the Cabinet's resignation on Thursday, it has been made clear.

The country's parliamentary elections have been scheduled for July 7.