Pro-Russian protestors set fire to EU office in Sofia, as Bulgaria nears eurozone

As Bulgaria edges closer to the Eurozone, some 1,000 protestors gathered outside the National Bank headquarters waving banners and placards proclaiming “No to the euro” and “Yes to the Bulgarian lev” in a demonstration organised by the pro-Russian Vazrazhdane (Revival) Party on Saturday, 22 February.

The demonstrators later proceeded to the European Commission (EC) building in the Bulgarian capital of Sofia, the EU’s representative office in the country, throwing red paint and fireworks, and eventually setting fire to a door. Police said some officers had been injured and several demonstrators arrested during the clashes.

“I am here to defend Bulgaria and the Bulgarian people,” Vazrazhdane leader Kostadin Kostadinov said, adding that “If there is no referendum (on joining the Eurozone), we will block the work of the National Assembly.” 

Inflation falling, but further steps needed

Bulgaria, which joined the EU in 2007, has been plagued by political instability in recent years. However, its new government, formed last month, has prioritised eurozone membership. 

The weekend of unrest in Sofia came after EU Economy Commissioner Valdis Dombrovskis said Bulgaria’s goal of joining the eurozone by 1 January 2026 remains realistic, ahead of a Eurogroup meeting of eurozone finance ministers in Brussels on 17 February.

Dombrovskis added that Bulgaria must fully comply with the Maastricht criteria, particularly regarding inflation and fiscal stability, but noted that inflation in Bulgaria is trending in the right direction and approaching the reference value for euro adoption.

However, he stressed that Bulgaria must present a medium-term fiscal structural plan in line with the EU’s new economic governance framework. The EC is prepared to assist Bulgaria in this process but insists that further preparations are necessary, he said.

Eurozone ministers review Bulgarian progress

The Eurogroup meeting in Brussels saw Bulgarian Finance Minister Temenuzhka Petkova present an overview of the country’s macroeconomic stability and fiscal alignment with EU policies. The talks focused on Bulgaria meeting the necessary economic conditions for euro adoption.

Dombrovskis’ remarks reaffirmed the EC’s position that Bulgaria’s target remains feasible, provided that it continues to make the necessary structural adjustments. While acknowledging the progress made, he stressed that Bulgaria must maintain fiscal discipline and economic reforms to successfully complete its eurozone accession.

Kostadinov repeats threats

Bulgaria will formally request the EC and the European Central Bank to prepare special convergence reports before the end of February, Petkova said after the 17 February meeting. She added that the Eurogroup’s preliminary assessments “give us confidence that we will meet all the criteria for nominal convergence… which is why we expect this to become a fact on January 1 2026”.

Eurogroup president Paschal Donohoe said: “We appreciate Bulgaria’s ongoing efforts and its commitment to economic stability and convergence with the euro area. We continue to monitor its progress towards the objective of joining the euro area,” Donohoe said.

Dombrovskis said “As far as fiscal management is concerned, we expect the medium-term fiscal and structural plan in line with the new economic governance framework, as well as other aspects of the preparation. But I think that January 1 is a realistic goal also from the point of view of the European Commission. We are ready to provide support, but there is still work to be done,” Dombrovskis added.

However, speaking in the Bulgarian Parliament, Kostadinov said: “We will not allow Bulgaria to enter the Eurozone illegally, we will set you on fire if necessary.”