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Eurozone ambitions/ Bulgarian President Radev proposes referendum on euro adoption

2025-05-10 10:15:00, Kosova & Bota CNA

Eurozone ambitions/ Bulgarian President Radev proposes referendum on euro

Bulgaria's President Rumen Radev will propose to parliament to hold a referendum on whether the country should adopt the euro in 2026, as planned by the government, the head of state told local media.

"There is no consensus in Bulgarian society either on our readiness to adopt the euro, or on the date," Radev said in an address to the nation published on the presidency's website.

Radev spoke less than a month before the European Central Bank and the European Commission are set to publish extraordinary convergence reports on the country's readiness to join the eurozone in 2026. The reports are expected to be positive as Bulgaria, an EU member since 2007, has met all the Maastricht criteria for eurozone membership.

Inflation, lack of trust in politicians and the lack of clear steps by those in power to protect the purchasing power of the people and the competitiveness of the Bulgarian economy are creating tensions. The introduction of the single European currency must be based on a convincing national consensus, as the Bulgarian president argued.

Radev's proposal for a referendum reflects calls from the pro-Russian, anti-EU Vazrazhdane party, the third largest party in parliament. In February, ten people were arrested for attacking the European Commission building in Sofia during a protest organized by Vazrazhdane. /CNA





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