Bulgaria PM: Opposition Deserves Nobel Prize in Economics

Politics | October 23, 2007, Tuesday // 00:00
Bulgaria: Bulgaria PM: Opposition Deserves Nobel Prize in Economics PM Sergey Stanishev went as far as to proudly flourish a banknote of fifty levs, calling on the MPs to compare their purchasing power now and in the mid-90s, referring to Zhan Videnov governing. Photo by Yuliana Nikolova (Sofia Photo Agency)

Bulgaria's Socialist Prime Minister said he would put forward the opposition parties for Nobel Prize in economics should their ideas for tackling the teachers' strike prove right.

"I was really concerned by statements, which claimed dishing out the currency reserve would push the rate of inflation down. Should they be proven correct, that would be a discovery worthy of a Nobel Prize in economics," Sergey Stanishev said after his three-way government expectedly survived a no-confidence vote over its policy in education.

"Each no-confidence vote tests the strength of the ruling coalition. It is obvious that these attempts at destabilization have failed," Stanishev added.

He said a no-confidence vote days ahead of the nationwide local elections and amidst an ongoing strike "sets a precedent".

"The government will continue to assign high priority to the education system, but the country's financial stability will remain its top priority," he said.

Stanishev went as far as to proudly flourish a banknote of fifty levs, calling on the MPs to compare their purchasing power now and in the mid-90s, referring to the winter of discontent of Zhan Videnov governing.

The politics of Videnov's cabinet are responsible for the severe economic crisis in Bulgaria in the 90s that escalated in the winter of 1996 and eventually toppled the government. Hyperinflation was also observed when the rate of the Bulgarian lev went down from BGN 60 for USD 1 to BGN 3000 for USD 1.

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