The decision of Bulgarian MPs to extend a ban on the purchase of land by foreign citizens was due to giving in to populism, admitted largest parliamentary group leader and former Bulgarian PM Boyko Borisov.

The controversial motion was passed Tuesday with the votes of Borisov's former ruling GERB party, together with votes from the now ruling Bulgarian Socialist Party and nationalists Ataka, who tabled the draft resolution.

Only the liberal Movement for Rights and Freedoms, also part of the coalition ruling Bulgaria at present, voted against the moratorium, which is counter to Bulgaria's commitments made in its EU accession treaty.

"Misled by the overall madness and populism, some 150 MPs from the two major parties voted for the memorandum," said Borisov Thursday, refering to GERB and the Socialists.

"The populism that Ataka introduced into Parliament, and the fact that the Socialists and the Movement tied their rule to that party, made so that we all give in to the general madness," explained the former Bulgarian PM while on a trip to Brussels.

According to Borisov, there is no real threat for the interests of Bulgarians if the moratorium on the sale of land to foreigners is lifted.

Only one week ago, GERB MPs had vocally stressed that they stand firmly behind Ataka's proposal.

However, Thursday the GERB leader argued that the sale of land could be opened up for foriegn nationals, with the requisite exceptions designed to exclude entities such as murky business structures and extremist organizations.