The growing energy costs play an important role for the increase of the overall consumer price indices during the last couple months and threatens a maintenance of high inflation rates during the entire 2022.
After a turbulent year and a total of three general elections, Bulgaria finally has a government. Much like the new power in Germany, it is far from a stable, single-party rule but rather a patchy, colorful coalition of small powers and former enemies.
It is the summer of the second year of the COVID-19 panemic, and the European Union has generously opened its coffers to spend on post-pandemic recovery. Various governments of the EU are scrambling to put forward their best ideas to be funded by the new support scheme.
Bulgaria had its autumn of discontent. The mass protests proclaimed as a crusade against corruption and state capture have failed, while the prospects for reform of the oligarchic model from within are bleak at best. Hence, Bulgarians are looking at a winter of stagnation and political blockage.
The protests in Bulgaria have been going for almost two months now. As the government has failed to provide a meaningful alternative that could satisfy the demands of the demonstrators and thus solve the ongoing political crisis, let us examine the root causes that have driven it.
Crises, particularly so severe as the one we are currently facing, have the inevitable habit of redefining the way our economic life works. The way people work, as well as the very labor market itself, will undergo significant changes.
During the transition towards liberal democracy and a market economy, some countries from the former Eastern Bloc managed to successfully mimic the model that had already been proven to be successful in the West – a multiparty democratic system, combined with mostly free market capitalism.
There are clear reasons why Silicon Valley or Shenzhen are synonymous with high technologies – they are the place where entrepreneurs and businesses in this field have created their ecosystem, and accordingly attract those who want to break into the industry.
The fate of the “mobility package” is, however, far from sealed – the final decision on it will be taken not by the current, but the next composition of the European parliament, which may turn out to be more welcoming towards competition.