Fall From Power
The BSP lost the November 1996 presidential elections by an almost 20% margin. Following the results, several chief members of cabinet resigned and joined the internal BSP opposition against the party leader. Videnov tendered his own resignation as both prime minister and chairman of the BSP on 21 December 1996, but stayed on as acting prime minister until a successor could be appointed. The BSP, which still held the majority in Parliament, attempted to form a new cabinet. However, the UDF-headed opposition responded by organizing month-long street protests in big cities, demanding that the parliament should be dissolved and that elections must be held immediately because of the BSP's responsibility for the crisis. The protests culminated in a general strike and a siege of the house of Parliament, which was stormed and set on fire by the protesters. Bowing to popular pressure, BSP leaders eventually agreed to early elections and a caretaker cabinet headed by Stefan Sofiyanski (UDF) took over on 13 February 1997. Videnov stayed for a brief period as a figure in the hardline opposition within BSP and as a low-ranking functionary, but he soon left politics altogether.
Read more about this topic: Zhan Videnov
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