Bulgaria with Second Lowest Debt-to-GDP Ratio in EU in Q1, 2014

At the end of the first quarter of 2014, Bulgaria's government debt increased by 1.4 percentage points from the last quarter of 2013 and by 2.3 pp from the first quarter of 2013, to 20.3% of the GDP, according to Eurostat.

In the last quarter of 2013 the government debt amounted to 18.9% of the GDP and in the first quarter of 2013 it stood at 18.0% of the GDP.

Jean-Claude Juncker Elected President of EU Commission

A majority in the European Parliament has approved Jean-Claude Juncker to be President of the European Commission, reports BBC.

He got 422 votes out of the 729 total cast in the secret ballot, despite strong opposition earlier from Britain. Juncker got well over the 376 votes minimum that he needed.

There were 250 votes against him, 47 abstentions and 10 spoilt ballots.

Jean-Claude Juncker To Be Approved As Head of European Commission

The European Parliament is expected to approve on Tuesday the nomination of former Luxembourg PM Jean-Claude Juncker as president of the European Commission.

If backed by a majority of MEPs, he will succeed incumbent Jose Manuel Barroso of Portugal in November.

Last month,  Juncker won the backing of 26 out of 28 leaders of the EU.