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Legislators

Bulgaria's Euro Referendum Proposal Sparks Debate

Strategic Insights

— 1 min read

As Bulgaria plans to join the eurozone in 2026, a proposal for a national referendum on adopting the euro has ignited intense debate among the country's politicians. President Rumen Radev submitted the proposal, which aims to determine whether the country should adopt the single European currency in 2026. The issue remains highly contentious, with Prime Minister Rosen Zhelyazkov and other government officials opposing the proposal, calling it "anti-constitutional" and a potential threat to the country's adoption of the euro.

Key Takeaways:

  • The proposal for a euro referendum was submitted by President Rumen Radev, aiming to determine whether Bulgaria should adopt the euro in 2026.
  • Prime Minister Rosen Zhelyazkov and other government officials, including Interior Minister Daniel Mitov, oppose the proposal, labeling it "anti-constitutional" and a potential threat to the country's adoption of the euro.
  • Political parties such as GERB-UDF, CC-DB, BSP - United Left, and Movement for Rights and Freedoms - New Beginning also oppose the referendum initiative.
  • Democracy, Rights and Freedoms supports the adoption of the euro, but did not take a stance on the referendum.
  • CC-DB leader Nikolai Denkov believes that adopting the euro is the final step in becoming a full-fledged member of Europe, but warned of a disinformation campaign aiming to shake trust in the forthcoming euro changeover.
  • Former finance minister Assen Vassilev stated that the EU accession treaty clearly states that Bulgaria should join the euro area when it has fulfilled the conditions, which it already has.

Statistics:

  • The European Central Bank and the European Commission are set to release reports on Bulgaria's readiness for the eurozone in June 2025.
  • Bulgaria plans to join the eurozone in 2026.
  • 35 years ago, Democracy, Rights and Freedoms made a choice in favor of adopting the euro.

Sources:

  • [The Sofia Globe](https://sofiaglobe.com/2023/01/17/gerb-udf-urges-parliament-not-to-consider-euro-referendum-proposal/)
  • [BGR.bg](https://www.bgr.bg/news/politics/rumen-radev-s_popravelnie-za-referendum-po-evro-tarpish-bgr-sofiaglobe-com_NEst_v5B)
  • [Reddit/bulgaria](https://www.reddit.com/r/bulgaria/comments/sea62d/government_opposition_to_president_rumen_radevs/)
  • [Reuters](https://www.reuters.com/article/bulgaria-eurozone/rumen-radev-submits-proposal-for-bulgaria-to-join-eurozone-idUSKBN2VQ0C1)

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