Unleashing a second wave of economic reform

Nikolay Vassilev, Bulgaria’s deputy prime minister and economy minister, rushes back into his office shortly after midnight on a Friday, having been locked in meetings all day. His dinner is a McDonald’s hamburger and chips, forced down as he begins yet another meeting. Bulgaria makes very different demands to those Vassilev faced when he was a London-based investment banker. However, he remains enthusiastic.

“Reform reached the point of no return a year ago. The majority of assets are in private hands and nearly three-quarters of all business is done by the private sector,” he says.