1st LD: Bulgarian president announces early elections on Oct. 5

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Bulgarian President Rosen Plevneliev on Wednesday dissolved the National Assembly, announced early parliamentary elections on Oct. 5, and appointed a caretaker government led by Constitutional Law professor Georgi Bliznashki.

The presidential decrees take effect immediately, Plevneliev's press office said.

Under the Bulgarian Constitution, the core task of the caretaker government is to organize the snap parliamentary polls.

On Tuesday, while presenting the cabinet, Plevneliev said it would also start the procedure for Bulgaria's entry into the single banking supervisory mechanism of the EU, begin the creation of an energy board, and prepare a complete analysis and forecast of the state budget for 2014.

The caretaker cabinet replaced the Bulgarian Socialist Party (BSP) government led by Plamen Oresharski, which came to power last May after early elections triggered by national protests against high bills for electricity and heating.

In power for just over a year, Oresharski resigned on July 23, after the Movement for Rights and Freedoms (MRF), a coalition partner, demanded snap elections.

The Balkan state now faces its worst banking crisis since 1990 after the Corporate Commercial Bank, the country's fourth largest lender, was hit by a run on its deposits in June. Endi

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