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Anti-austerity protests in Bulgaria induce the government to resign

National protests against harsh austerity measures pushed the Bulgarian government to resign on Wednesday. PM Boiko Borisov announced the decision this morning, attributing it to his disapproval of the brutal way the protesters were handled last night.

“I will not participate in a government under which police are beating people” he said, speaking at the Parliament in Sofia. Boiko Borisov tried to appease the general public earlier this week by dismissing the unpopular Finance Minister Borisov Simeon Djankov, but the move did not bring the desired effect.

Bulgarians have been expressing their opposition towards the latest increases in the cost of electricity and power monopolies. They have also been accusing politicians of corruption and showing dissatisfaction with the low living standards.

Forex: AUD/USD falls in European trading

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Forex: EUR/USD extends the descent below 1.3400

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