Bulgarian President Lumen Radev said he has filed a request to Parliament to hold a referendum on whether the country is adopting the euro as its currency.
“Bulgaria faces a strategic decision as a full member of the European Union – the introduction of a single European currency,” Radev said in a national speech.
“The referendum is a test of democracy in the National Assembly, showing who follows democratic principles and who deny the Bulgarians the right to determine their future.
The road to the eurozone was not an easy road for Bulgaria.
In 2024, the European Central Bank said the country cannot join the currency union because the country’s inflation is too high.
And in February this year, Sofia police clashed with nationalist protesters who demanded that the government scrap plan to join the eurozone.
About 1,000 protesters gathered in front of the European Commission’s Sofia Bureau, the administrative department of the European Union, threw red paint and firecrackers on the building, eventually setting fire to light.
Bulgaria, who joined the EU in 2007, has been plagued by political instability over the past few years.
The new government, formed last month, has made eurozone membership an important priority.
However, not everyone is sure Bulgaria is ready to join the Eurozone.
Some economists argue that the country lacks an acceptable economic situation to join the eurozone and is not yet prepared to adopt a single currency.
However, the government, supported by other pro-European parties in Parliament, emphasizes the political importance of adoption as another step towards deepening European integration amid growing geopolitical tensions.
In an attempt to divert the country from this purpose, pro-Russian nationalists are said to be preparing for a more enthusiastic fight and using disinformation as a tool to spread fear amongst people.
