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bparksj28

Bulgarian government resigns amid growing protests - Yahoo! News - 0 views

news.yahoo.com/tional-protests-073220738.html

government growing protests bulgaria quits

shared by bparksj28 on 20 Feb 13 - No Cached
  • Bulgaria's government resigned on Wednesday after violent nationwide protests against high power prices, joining a long list of European administrations felled by austerity during Europe's debt cri
  • raise living standards in the European Union's poorest member,
  • Wage and pension freezes and tax hikes have bitten deep in a country where living standards are less than half the EU average
  • ...5 more annotations...
  • The spark for the protests was high electricity bills, after the government raised prices by 13 percent last July. But it quickly spilled over into wider frustration with Borisov's domineering manner and unpredictable decision making.
  • The prime minister made sacrifices in an attempt to cling on, sacking his finance minister, cutting power prices and risking a diplomatic row with the Czech Republic by punishing foreign-owned companies, a move that conflicted with EU norms on protection of investors and due process.
  • Unemployment in the country of 7.3 million is far from the highs hit in the decade after the end of communism but remains at 11.9 percent and average salaries are stuck at around 800 levs ($550) a month.
  • Millions have emigrated in search of a better life, leaving swathes of the country depopulated and little hope for those who remain.
  • The precedent is unlikely to encourage other foreign investors, who already have to navigate complicated bureaucracy and widespread corruption and organized crime if they want to take advantage of Bulgaria's 16-percent flat tax rate.
bparksj28

India hit by national strike over economic reforms - Yahoo! News - 0 views

news.yahoo.com/reforms-074613172--sector.html

india hit national strike economist

shared by bparksj28 on 21 Sep 12 - No Cached
  • called the strike to protest against a 14 percent increase in heavily subsidized diesel prices, and a government decision that opens the door to foreign supermarket chains investing in India.
  • economic reforms aimed at boosting a sharply slowing economy
  • long demanded by Indian business leaders, were crucial for economic growth.
  • ...3 more annotations...
  • "Good economics seldom makes for good politics,"
  • mom-and-pop "kirana" stores, who fear the retail reform will drive them out of business
  • "If we don't protest now, the central government will eliminate the poor and middle-class families,"
  • bparksj28 on 21 Sep 12
     
    India strike over market-oriented new policies
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