Bulgaria’s euro debate intensifies as pro-EU opposition pushes January adoption date
Reading Time: 2 minutesBulgaria’s pro-European opposition has tabled a declaration committing the country to join the Eurozone on 1 January 2026, challenging the government to reaffirm its commitment to its deadline, amid suggestions of a referendum on the issue.
The We Continue the Change-Democratic Bulgaria (PP-DB) coalition, called for Parliament to restate Bulgaria’s strategic goal of full Eurozone membership in a declaration that it submitted to the National Assembly on Monday, 12 May.
CC-DB urged MPs to debate and vote on the text as soon as possible to provide clarity ahead of a European Commission and European Central Bank assessment scheduled for 4 June.
Institutional clash over eurozone accession
The declaration directly targets Bulgarian President Rumen Radev’s proposal for a national referendum on the euro, calling it a “poorly written populist manifesto”, and an “attempt to sabotage Bulgaria’s eurozone accession”. The proposal lacked legal merit and risked provoking “institutional chaos”, in defiance of both the Bulgarian Constitution and EU law, PP-DB argues.
The move deepens political tensions over euro adoption, which has faced growing public scepticism fuelled by inflation fears. False claims have circulated widely on social media, including narratives about loss of sovereignty and economic collapse, according to politics website Euronews.
PP co-leader and former PM Kiril Petkov wrote on Facebook that “We Continue the Change will do our best to enter the Eurozone on January 1, 2026! We will not support this unconstitutional referendum!
“Let’s keep the deficit below 3% and inflation low… to meet the criteria. We Continue the Change, with our colleagues from Democratic Bulgaria, will do everything possible to make Bulgaria a part of the heart of Europe,” Petkov added.
Gov’t cautious, while EU, banks, support 2026 timeline
Bulgaria’s right-wing GERB-led government has given mixed signals on the 2026 target, with some officials supporting the 1 January deadline, and others warning that Bulgaria should first stabilise inflation to meet the criteria. Moreover, while Bulgaria may meet several technical criteria, public support remains fragile, with polls showing a country split over euro adoption.
The European Commission and European Central Bank are expected to publish their convergence assessment on 4 June. A positive outcome would keep Bulgaria on track for 1 January, provided it maintains economic stability and completes legislative preparations.
Financial institutions, including UniCredit, have expressed support for Bulgaria’s 2026 target, arguing that euro adoption would reduce currency risk, lower transaction costs, and deepen integration with the EU single market.
PP-DB to seek cross-party support in coming weeks
The political battle over euro adoption is set to dominate the parliamentary agenda in the coming weeks. The success of PP-DB’s initiative will depend on building up cross-party support and pressure on the government to confirm its commitment to the deadline.
As the EU assessment approaches, Bulgaria’s euro ambitions remain on shaky ground, as the country navigates political divisions and public scepticism over the issue.