The streets of Sofia have once again witnessed chaos, with nationalists fighting against the scheduled departure of the Lev as the national currency.
Why is the euro not welcomed in Bulgaria despite thousands of people choosing to take their vacations in neighbouring EU countries ?[1][2]Opinions of the European Union and the Euro are divided; some people are pessimistic about the future of Bulgaria under the Euro, while others are relatively optimistic about the European Union.
[1] Alpha Research 2025 “What is your view of the European Union”
According to the 2022 Alpha Research“Public attitudes towards the Introduction of the Euro in Bulgaria”,only one-third of adults expressed approval of adopting the single European currency. Businesses however, showed a notably more positive attitude, with 47% fully supporting the change and anticipating beneficial effects for the economy. Fears and apprehensions were especially pronounced among individuals with lower education levels and those of older age with low income, and these characteristics collectively describe one-third of Bulgaria’s population, as concluded by the research.
A subsequent study in 2024 revealed a continued trend shaped by euroscepticism. Once again, among business owners opinions remained positive while enthusiasm diminished further amongst the general public, with only 34% of Bulgarians supporting the currency transition. Ultra-nationalist sentiments propagated by theRevivalparty significantly amplified public pessimism with their persistent demand for referendums over the last 7 years.
Chaos and Resistance
Led by Kostadin Kostadinov, Revival attempted to initiate a referendum on adopting theEuro in 2018, gathering over 100,000 signatures - short of the 200,000 required for parliamentary consideration. Another referendum attempt in July 2023 was once again rejected with the Constitutional Court later finding that only 470,000 of the 6000,000 signatures submitted were valid.
Each time Bulgarian governments have prioritized eurozone membership as a strategic step toward deeper European integration amidst geopolitical tensions, Revival have pushed back with violence.
In February 2025, Revival supporters staged violent protests in Sofia against Euro adaptation, with Mr Kostadinov threatening further parliamentary obstruction if no referendumis set.[2]Police officers were attacked, the European Commission’s office was covered with red paint, eggs, firecrackers, and Molotov cocktails. Protesters also gathered outside the Bulgarian National Bank, waving national and party flags, and chanting "No to the euro".
[2] Image by Hristo Vladev/Anadou/picture alliance
European Commission President Ursula von der Leyen condemned the attack as"outrageous," highlighting the vandalism ofthe EU office. The Bulgarian Prime Minister Rosen Zhelyazkov, of the center-right GERB party since January, also denounced the violence, emphasizing that such actions are unacceptable and contradict the principles of the rule of law.
Revival VS European Union
Revival’s demand for referendums appears intended primarily as a delaying tactic, Mr Kostadinov’s insistence on referendums raises questions about his party’s motivations and agenda. No other country in the European Union has conducted a referendum on whether to adopt the Euro, so why does the Revival party want Bulgaria to be the exception ?
When Bulgaria joined the EU in 2007, it signed the Accession Treaty which legally binded the country to adopt the Euro as its official currency once the Maastricht criteria becomes fulfilled. A call for a referendum cannot be used to stop Bulgaria from integrating the Euro.
Bulgaria has maintained a fixed exchange rate between the Lev and the Euro since 1999, and in April 2020, Bulgaria formally applied to join the Exchange Rate Mechanism II (ERM II), a mandatory step before adopting the euro and has since been working to meet the necessary economic criteria for euro adoption. Despite having the lowest GDP per capita within the EU, Bulgaria has largely satisfied the Maastricht criteria for joining the eurozone, keeping public debt low and making huge efforts to keep the budget deficit below 3%.
Multiple petitions and organised protests show that Revival's true concerns lie not with Bulgaria’s economic sovereignty or cultural preservation, but with the increased financial scrutiny and monitoring that the European Central Bank and European Commission oversight will bring.
Bracing for Change
As Bulgaria moves closer to adopting the Euro, the nation faces a critical decision point: either embrace deeper European integration, increased transparency, and improved economic governance, or succumb to internal divisions fueled by nationalist rhetoric and misinformation. January 2026 will significantly influence Bulgaria’s trajectory, either towards economic stability and European cohesion or continued uncertainty and internal discord.
Sources Used :
- ● https://www.euractiv.com/section/politics/news/bulgaria-claims-it-is-fully-ready-to-ado-pt-the-euro/
- ● https://economy-finance.ec.europa.eu/euro/eu-countries-and-euro/bulgaria-and-euro_en
- ● https://news.bg/politics/100-hilyadi-podpisa-protiv-evroto-sabrali-vazrazhdane.html
- ● https://www.euractiv.com/section/politics/news/bulgarian-business-wants-to-join-eurozone-but-society-has-doubts/
- ● https://alpharesearch.bg/post/1004-obshtestveni-naglasi-za-vuvejdaneto-na-evroto-v-bulgaria.html
Graph and Images :
- ● [1]REUTERS/Stoyan Nenov
- ● [2]Alpha Research 2025 “What is your view of the European Union”
- ● [3]Image by Hristo Vladev/Anadou/picture alliance