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Bulgarian Fringe Lefists Nominate Ex-Socialist PM for President

Date: 27.06.2011

Former Bulgarian PM Zhan Videnov is the presidential nominee supported by at least 100 local structures of the Bulgarian Left-Wing party, announced Ivan Genov, leader of the formation in a TV interview.

"Bulgarian Left-Wing" was established in April 2009 to unite former BSP members and individuals not affiliated with any party, but professing leftist views.

In Genov's words, Videnov has not agreed but he may do so "amid increased social pressure and if he feels that the attitude towards him is more adequate and corresponds to his previous occupation".

The politics of Videnov's cabinet are responsible for the severe economic crisis in Bulgaria in the 90s that escalated in the winter of 1996 and eventually toppled the government.

Hyperinflation was also observed as the rate of the Bulgarian lev went down from BGN 60 for USD 1 to BGN 3 000 for USD 1.

After Videnov resigned, Bulgaria introduced a currency board under pressure from the International Monetary Fund (IMF).

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