On Wednesday, 20th of February 2013, the Bulgarian government headed by Boyko Borissov has deposited its resignation. What happened? What comes next?

The more things change, the more they really do stay the same. For a while after the global crisis, we were told that the IMF had changed its position with respect to the strict and generally pro-cyclical measures it had been suggesting to countries in the throes of financial or balance of payments crisis. Their economists openly accepted the need for fiscal stimuli and generally counter-cyclical macroeconomic policies to combat the recession.

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