Radev Resigns: Bulgaria's Political Landscape Poised for Change

Bulgaria's President Rumen Radev resigns, possibly to form a political party. Following a period of political instability, he steps down as rumors swirl about his intentions for the upcoming parliamentary election. Vice President Iliana Iotova takes over as Bulgaria's first female president, amidst a wave of national change.

Bulgaria's political landscape witnessed a significant change as President Rumen Radev stepped down on Friday. This resignation, approved by the Constitutional Court, fuels widespread speculation regarding his potential venture into political party formation, particularly given the looming parliamentary elections.

Radev, whose second mandate was due to expire next January, handed over presidential duties to Vice President Iliana Iotova in a brief ceremony. Iotova makes history as Bulgaria's first female president, furthering her new role in the EU and NATO member state.

Although the presidential role in Bulgaria is largely ceremonial, Radev has wielded substantial behind-the-scenes influence amid political uncertainty. His departure coincides with Bulgaria's transition to the euro and the collapse of the prime minister's administration, intensifying the nation's dynamic political scene.

(With inputs from agencies.)