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20 Feb 2013

Anti-austerity protests in Bulgaria induce the government to resign

National protests against harsh austerity measures pushed the Bulgarian government to resign on Wednesday. PM Boiko Borisov announced the decision this morning, attributing it to his disapproval of the brutal way the protesters were handled last night.

“I will not participate in a government under which police are beating people” he said, speaking at the Parliament in Sofia. Boiko Borisov tried to appease the general public earlier this week by dismissing the unpopular Finance Minister Borisov Simeon Djankov, but the move did not bring the desired effect.

Bulgarians have been expressing their opposition towards the latest increases in the cost of electricity and power monopolies. They have also been accusing politicians of corruption and showing dissatisfaction with the low living standards.

Feb 20, 2013

Forex: AUD/USD falls in European trading

The AUD/USD didn't hold above the 1.0350 line, close to the opening price, and edged lower throughout the European morning. The cross reached as low as 1.0318, for now, and is quoting quite close to that area still.

Forex: EUR/USD extends the descent below 1.3400

The bloc currency is intensifying the decline after penetrating the key mark at 1.3400 on Wednesday, as risk aversion continues to swell. The cross is thus partially retracing Tuesday’s gains tha...