News
Thousands Protest in Bulgaria Against Euro Adoption, Demand Referendum on Currency Change
Thousands of Bulgarians rallied across the country on Saturday to protest the government’s plans to adopt the euro and replace the national currency, the Bulgarian lev. Demonstrators called for a national referendum on the issue, warning that eurozone membership could lead to higher prices and the loss of economic sovereignty.
The protests, organized by the ultranationalist Revival Party and several non-governmental organizations, took place in the capital Sofia and multiple other cities. Demonstrations began around midday and drew large crowds voicing opposition to the government’s euro adoption agenda.
“Bulgaria must preserve its currency and its freedom,” said Revival Party leader Kostadin Kostadinov during the Sofia protest. “We do not want the Bulgarian lev to be destroyed. The people want a referendum, and the government must respect that will.”
The protests come amid renewed efforts by Bulgaria’s newly formed government to prioritize eurozone membership. The administration, which took office last month, has named entry into the euro area as a central goal of its economic policy.
Opposition groups argue that the government is moving too quickly and without sufficient public consultation. Many fear that joining the eurozone will lead to inflation, rising costs of living, and diminished control over national monetary policy.
Bulgarian President Rumen Radev recently submitted a formal request to the National Assembly to hold a referendum on the issue. Though the proposal has yet to be debated, it reflects growing pressure from both citizens and opposition parties for a direct vote on the country’s euro ambitions.
In 2024, the European Central Bank ruled that Bulgaria did not yet meet the necessary convergence criteria to join the eurozone, primarily due to its high inflation rate. Nonetheless, the government continues to press forward with preparatory steps.
Bulgaria is one of seven European Union member states that have not adopted the euro. Alongside the Czech Republic, Denmark, Hungary, Poland, Romania, and Sweden, it remains outside the currency union. All except Denmark — which has a formal opt-out — are obligated to join once they fulfill the economic and legal requirements.
As political tensions rise and public opinion remains divided, the future of Bulgaria’s currency hangs in the balance — with growing calls for the people to have the final say.
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