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BRUSSELS - Fifteen years ago, both Bulgaria and Romania went through rampant
inflation linked to a financial crisis. Bucharest narrowly avoided the
collapse, but Sofia was less fortunate and experienced a meltdown of the sort Greece is currently trying to prevent.
Extract :
“According to the International
Institute of Finance, inflation in Bulgaria hit 174.4 percent in 1996 and a
record of 1,077.5 percent the next year. Its curency,
the lev, went from 500 per US dollar in late 1996
to 2,200 per US dollar in February 1997.
Food shortages and a harsh winter drove people to despair, with mass rallies
ultimately forcing out the post-Communist government largely blamed for the
disastrous policies that led to the currency collapse.”
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