Thousands Protest Bulgaria Euro Adoption, Calls Referendum

Bulgaria is set to adopt the euro as its official currency on January 1, 2026, following approval from EU leaders and fulfillment of all convergence criteria. Despite this milestone toward deeper economic integration, thousands of protesters, led by nationalist and pro-Russian groups such as the Vazrazhdane party, have rallied in Sofia demanding a referendum to halt the change, citing concerns over loss of financial sovereignty and influence from the European Central Bank. The Vazrazhdane party has also submitted a no-confidence motion against the government over its euro adoption plans, though the pro-EU coalition is expected to remain in power. Public opposition remains strong, with surveys indicating that a majority of Bulgarians oppose the switch, fearing inflation and economic instability despite economists' views that the transition will be gradual given the lev’s current peg to the euro. The European Parliament and Economic and Financial Affairs Council are set to finalize the decision soon, solidifying Bulgaria as the eurozone's 21st member. This transition marks the first eurozone expansion since Croatia's 2023 entry, amid ongoing political instability and euroscepticism within Bulgaria.