For the last few days, thousands of Bulgarians have taken to the streets. They are marching against the government’s plans to join the euro currency. Demonstrators mobilized not only in Sofia but in other large cities of the country, expressing their outrage and calling for a national referendum on the matter. Public alarm over inflation and its impact on folks’ ability to buy what they need is excessive. President Rumen Radev focused on these concerns and demanded more public debate and consultation on a referendum.
Bulgaria became a member of the European Union in 2007. Today, it is one of the poorest members of the bloc, but home to a vibrant and well-educated population of 6.4 million citizens. The country is on the cusp of joining the eurozone. While Brussels is still widely expected to approve its adoption of the euro soon, the issue remains under an intense spotlight. Yet major divides persist across the country along racial, ethnic, and class lines when it comes to this ongoing transition.
Demonstrators in Sofia held flags associated with the pro-Russian Vazrazhdane party, known for their anti-euro position. They carried a massive banner proclaiming, “The battle for the Bulgarian lev is the last battle for Bulgaria,” while chanting patriotic songs and slogans such as “Freedom for the Bulgarian lev” and “The future belongs to sovereign states.” These sentiments are symptomatic of something much deeper, an existential crisis about national identity and socio-economic security.
Yet the new parliament’s pro-European majority recently rejected a proposal to adopt the euro. They were quick to blame President Rumen Radev for any support of Moscow by promoting anti-euro sentiment. Radev’s new tone in welcoming public dissent raises some eyebrows at home. He is now personally leading the charge for a citizens’ referendum that would permit citizens to weigh in directly on the proposed currency change.
As Bulgaria heads toward an unprecedented referendum on its economic future, the protests are a clear sign of the growing restlessness among the people. Many ordinary Bulgarians fear that joining the euro will only make their country’s economic problems much worse. They note that the country is the EU’s second-poorest member state. The outcome of this situation remains uncertain, as public pressure mounts for a more inclusive dialogue on the issue.
