CEE Economic Sentiment Indicators fall on polycrisis woes

bne IntelliNews June 30, 2022

The European Commission’s Economic Sentiment Indicators (ESI) for Central and Eastern Europe (CEE) fell in May as the polycrisis hitting the world took its toll on economies across the entire region.

Nato agrees 'fundamental shift' to counter Russia

Robert Anderson in Prague June 29, 2022

Security alliance’s leaders agree a big increase in troop deployments on its Eastern Flank, more help for Ukraine in its defence against Russian aggression, and a new Strategic Concept.

Bulgaria a step closer to early election as Socialists pull out of coalition talks

Denitsa Koseva in Sofia June 29, 2022

Pro-Moscow BSP says it won't continue talks on a new coalition with outgoing PM Kiril Petkov's Change Continues after mass expulsion of Russian diplomats.

bneGREEN: Five countries seek delay for EU petrol and diesel ban

Richard Lockhart in Edinburgh June 29, 2022

Italy, Portugal, Slovakia, Bulgaria and Romania are seeking to push back by five years EU proposals to slap a ban on selling new petrol and diesel cars from 2035.

Bulgaria expels 70 Russian diplomats

Denitsa Koseva in Sofia June 28, 2022

Mass expulsion is unprecedented for Bulgaria, which until recently was seen as one of Russia’s most loyal allies in the EU.

Credit Suisse fined over laundering of Bulgarian cocaine traffickers’ money

Denitsa Koseva in Sofia June 27, 2022

Credit Suisse becomes first big bank group in Switzerland to be convicted in such a case after failing to prevent laundering of over CHF19mn.

Petkov rejects ITN proposal for talks on new government

Denitsa Koseva in Sofia June 27, 2022

ITN says it would form new coalition government so long as Petkov steps down as premier.

Bulgaria’s parliament approves French compromise to lift veto on opening of North Macedonia’s EU talks

Denitsa Koseva in Sofia June 24, 2022

North Macedonia has already rejected the French EU Presidency's compromise plan because it foregrounds Bulgaria's complaints about its neighbour.

bneGREEN: Reducing investment in fossil fuels can fund Europe’s energy transition

Richard Lockhart in Edinburgh June 24, 2022

Europe’s electricity system could become greener, more secure and more resilient while not requiring any funding if the right investments are made to replace increasingly expensive fossil fuels.

bneGREEN: Coal investment remains major threat to green dream

Richard Lockhart in Edinburgh June 24, 2022

An 8% rise in global energy investment in 2022 to $2.4 trillion, driven by a 12% rise in clean energy spending, is still far from enough to tackle the energy crisis and to put the world on the path to a greener and more secure energy future.

Bulgaria’s reformist government loses no-confidence vote

Denitsa Koseva in Sofia June 22, 2022

Vote ends efforts by Kiril Petkov's government to tackle graft in the EU's most corrupt country and plunges Bulgaria back into political instability.

Romanian crowdfunding platform SeedBlink helps Bulgarian startup Agriniser raise funds

bne IntelliNews June 22, 2022

First goal for Agriniser will be to expand its digital marketplace to buy and sell grain into Romania.

Bulgaria posts highest inflation in SEE amongst EU peers

bne IntelliNews June 21, 2022

Bulgaria posted the highest level of inflation in Southeastern Europe amongst EU members after annual inflation hit 13.4% in May, as the whole world fights to avoid stagflation

North Macedonia’s opposition VMRO-DPMNE seeks snap elections with major protest

Valentina Dimitrievska in Skopje June 19, 2022

Thousands join opposition protest in Skopje, where anti-government sentiment is fuelled by soaring living costs and failure to progress towards EU accession.

New majority brings down Bulgaria’s parliament speaker

Denitsa Koseva in Sofia June 16, 2022

Opposition parties including those from the far-right and populist right are preparing to bring down PM Kiril Petkov's reformist government.

Bulgaria’s inflation hits new record of 15.6% y/y in May

bne IntelliNews June 16, 2022

Inflation has been rising for 15 consecutive months but started speeding up recently due to surging energy prices.

Bulgaria appeals for German help to clean up suspected heroin route border checkpoint

Denitsa Koseva in Sofia June 14, 2022

Ruling party MP claims heroin is trafficked through the Kapitan Andreevo checkpoint on the Bulgaria-Turkey border, where video cameras in the phytosanitary lab were switched off for 10 years.

Bulgarian PM Petkov closer to restoring majority as MPs desert ITN

Denitsa Koseva in Sofia June 14, 2022

Bulgaria’s ruling coalition lost its majority when ITN pulled out, but may get the support of disaffected ITN MPs — though early elections can’t be ruled out.

Bulgarians most sceptical in EU about euro adoption, Eurobarometer poll says

bne IntelliNews June 12, 2022

54% of Bulgarians don't want their country to switch to the euro, despite plans to enter the eurozone in January 2023.

bneGREEN: Europeans set higher decarbonisation targets to rescue continent’s security

Richard Lockhart in Edinburgh June 10, 2022

A total of 19 European governments have accelerated their decarbonisation policies in response to a combination of the COVID-19 pandemic, the gas crisis and Russia’s invasion of Ukraine.