Word: bulgaria
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There are two main reasons for regret - one practical and one symbolic. The practical point is best made by the phrase: the West made them do it. Yes, some of the countries on the brink of collapse have brought disaster on themselves. Places such as Latvia and Bulgaria have run massive current-account deficits and are now paying the price. But the ability to borrow and spend so much comes, in part, because the countries had opened up their capital accounts and sold off their banks to Western Europe at the E.U.'s urging. Financial liberalization and free trade were...
...Tuesday it had reduced the supply to one-fifth its normal flow. On Wednesday, it cut the supply entirely. By then, Austria, Hungary, Serbia, Greece, Croatia and Bosnia all reported a virtual shutoff in gas deliveries, and a resulting shortage in homes and businesses. So did Bulgaria, where the chill of the Russian gas cut was so swift - and where reserves are so low - that officials said they would consider restarting an unused nuclear power plant to compensate...
Would you agree that 24-hour breaking news has diminished the value of in-depth journalism? Kristina Popski SOFIA, BULGARIA...
...billion rights issue to bolster its finances. Two days later Austria's Erste Bank turned to the state for $3.5 billion, in part because of problems with its banking operations in Eastern Europe. In addition to Ukraine and Hungary, which holds high levels of debt in foreign currencies, Bulgaria, Romania and the Baltic states have all been cited as potential candidates for rescue packages down the road. No bank operating in the region is immune. "This is a systemic crisis where everything gets sold," says Simon Maughan, an analyst at brokerage MF Global in London. "It doesn't matter whether...
...Other countries have the Mafia. In Bulgaria, the Mafia has the country.' ATANAS ATANASOV, a member of parliament, on the nation's history of political corruption and violence...