A political earthquake struck Sofia just 20 days before a historic national milestone. Consequently, the administration of Prime Minister Rosen Zhelyazkov capitulated to public outrage on Wednesday. He announced his resignation less than a month before the country adopts the euro currency.
Ultimately, this abrupt departure creates a power vacuum at a critical juncture for the European nation.
Corruption Allegations Spark “Civic Energy”
Notably, the collapse follows a night of intense unrest. Between 50,000 and 100,000 demonstrators flooded the “Triangle of Power” and Independence Square in the capital. Their demand was singular: the immediate removal of leadership they accuse of systemic graft.
Furthermore, visuals from the scene were stark. Activists projected the words “Resignation” and “Mafia Out” directly onto the parliament building facade.
In a televised address, Zhelyazkov acknowledged the overwhelming pressure from the streets.
“We hear the voice of citizens protesting against the government,” Zhelyazkov stated. “Both young and old have raised their voices for [our resignation]. This civic energy must be supported and encouraged.”
Meanwhile, the current ministers will remain in a caretaker capacity until parliament elects a new cabinet.
The Figures Behind the Fury
While the Bulgarian government resigns, demonstrators directed their anger at specific power brokers. Specifically, they focused their ire on two controversial figures:
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Delyan Peevski: The UK and US currently sanction this oligarch for alleged corruption. His party acted as a key pillar for the current coalition.
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Boyko Borissov: The former Prime Minister and a member of Zhelyazkov’s Gerb party.
According to the BTA news agency, the rallying cry for the protests was explicit: “Resignation! Peevski and Borissov Out of Power.”
Historically, this unrest is not new territory for Borissov. Similar anti-corruption demonstrations toppled his own administration in 2020. Since then, the nation has weathered severe instability, undergoing seven elections in rapid succession.
Impact on Eurozone Entry
Crucially, the timing of this political implosion is precarious. Bulgaria plans to officially join the eurozone on January 1.
Despite the chaos, analysts do not view the currency transition as under threat. Earlier reports suggested coalition partners agreed to hold the line until the new year, but the protests forced an early exit.
Previously, the minority centre-right government showed resilience. It survived five votes of no confidence. Moreover, observers expected it to weather a sixth challenge scheduled for Thursday.
However, the administration’s position became untenable after public pressure forced it to scrap a contentious budget plan last week. Additionally, President Rumen Radev voiced support for the protesters, which effectively sealed the government’s fate.
Zhelyazkov warned that the path forward requires fresh ideas. He noted that citizens must now produce “authentic proposals” for the nation’s governance.
Currently, Transparency International ranks Bulgaria among the worst performers in Europe regarding public perception of official corruption.
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