Die Auswirkungen der Griechenland-Krise auf Bulgarien
The Effects of the Greek Crisis on Bulgaria

Summary/Abstract: Abstract. After a decade of dynamic economic development, the Bulgarian economy in 2009 faced its first crisis within the last twenty years that was not due to internal reasons, such as the weakness of its domestic economy or transformational failures. The first signs of recovery in 2010 were soon confronted with the implications of the Greek debt crisis. The latter bore significant risks for the Bulgarian economy, considering the high level of interlacement between the two countries and the Bulgarian dependence on Greek capital. However, 2010 statistical data on foreign direct investment, bilateral trade and tourism reveal that the Bulgarian economy seemingly managed to transform the difficulties into new opportunities. Nevertheless, in the long run the effects of the Greek debt crisis will affect all other East European countries’ efforts to join the Eurozone, as they will meet more distrust in their relations to EU institutions.

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