A law professor has been named caretaker prime minister of Bulgaria until elections take place in three months.
Georgi Bliznashki said his interim government will look to unfreeze blocked EU aid and get the ball rolling for Bulgaria to join the EU’s banking union.
Speaking alongside Bliznashki, Bulgarian President Rosen Plevneliev said: “The recent events in our banking system have shown the need to join the European Supervisory Mechanism, as a first step to joining the European Banking Union. The interim government will start the procedure for this.”
Bliznashki will have a raft of issues to address: Bulgaria has been struggling with sluggish economic growth, street protests against corruption, deadly floods and a sovereign credit downgrade last month.