Against a background of the current decline in foreign investment, and Bulgaria’s long track record of coming last in the race for significant international sporting events, it is understandable when there is the seeming sparkle of bright prospects.

It is, however, not understandable when misunderstanding results, as was the case with the strange saga of the Formula One project.

In what may be kindly described as a burst of enthusiasm, the Economy Ministry – unchecked, in every sense of the word – made a bold announcement about talks that had been held with prospective foreign investors. Unfortunately, an announcement that not only was too bold, but also riddled with inaccuracies – inaccuracies that took days to emerge, thanks to some fact-checking by local journalists – but in the meantime did some serious damage. Perhaps not in the long run to the Formula One project itself, which hopefully will produce a racetrack at a pace faster than it takes Bulgaria to produce a highway, but certainly in the embarrassing international negative publicity that resulted from the "misunderstanding".

As a general rule, negotiations about foreign investments tend to be protracted and sensitive, and sometimes not unrelated to other matters of foreign and economic relations. A triumph of enthusiasm over discretion can be a risky business. Again, a general rule; when it comes to such matters, all involved are advised to drive carefully.