Expats

Rosatom to Claim EUR 1 B from Bulgaria over Missed Deadline [Apr 20, 2011] Bulgaria faces being taken to arbitration by the Russian contractor for the nuclear plant project in Belene as it is likely to miss the June 1 deadline for signing a final agreement. Bulgaria has committed to sign until June 1 an engineering, procurement and construction (EPC) contract for building a nuclear power plant at Belene, Russian media reported, citing representatives of state-owned ... [via YahooNews] More >>

US Sought to Discourage Bulgaria from Buying Brand-New Fighter Jets, French Corvettes [Feb 02, 2011] The US Embassy in Sofia sought to discourage Bulgaria from going for costly armament procurement deals over concerns with the latter's limited funds, a newly released US diplomatic cable provided by Wikileaks shows. The document entitled "Strategy to Shape Bulgaria's Military Modernization" is a US diplomatic cable sent on October 29, 2007, by John Beyrle, then US Ambassador to Bulgaria. It was ... [via YahooNews] More >>

Brussels Unaware of Bulgaria Budget Deficit Woes [Apr 12, 2010] The European Commission has not been informed about the sharp revision upwards in Bulgaria 's 2009 budget deficit caused by unaccounted procurement deals, a spokesman of the commission said. [via YahooNews] More >>

Bulgaria drops plans for early eurozone entry [Apr 12, 2010] Bulgaria 's centre-right government on 9 April abandoned plans?to join the bloc's exchange-rate mechanism, ERM II, after the country recorded a larger-than-expected deficit in 2009 as a result of unaccounted procurement deals signed by the previous socialist-led cabinet. Dnevnik, EurActiv's partner in Bulgaria , reports. [via YahooNews] More >>

Bulgaria Gives up Euro Bid on Hidden Deficit [Apr 09, 2010] Bulgaria 's center-right government abandoned plans on Friday to apply to join the bloc's exchange-rate mechanism, the so-called Eurozone waiting room, over a larger than expected 2009 deficit caused by unaccounted procurement deals, signed by the previous Socialist-led cabinet. [via YahooNews] More >>

(AFX UK Focus) 2010-04-09 12:52 UPDATE 1-Bulgaria drops euro preparations on hidden deficit [Apr 09, 2010] SOFIA, April 9 (Reuters) - Bulgaria dropped plans on Friday to apply to join the pre-euro ERM-2 waiting room because of a larger than expected 2009 deficit caused by unaccounted procurement deals in the European Union's poorest nation. Prime Minister Boiko Borisov, whose centre-right GERB party came to power last July, said the previous Socialist-led government had signed dozens of deals which ... [via YahooNews] More >>