site.btaUPDATED President Radev to Table Proposal for Referendum on Adopting Euro as Bulgaria's Currency

After on May 9 President Rumen Radev announced his intention to table a proposal for a national referendum on whether Bulgaria should join the euro area, the following day he told reporters that the question he will propose later on Monday will be: "Do you agree to have Bulgaria adopt the single European currency euro in 2026?".

The President stated that while Bulgarian governments have a commitment to a treaty signed with the European Union, their biggest commitment is to the Bulgarian people. He added that the change of the national currency is a matter of great importance issue and deserves real discussion. When asked about comments that he was drafting his future political project, Radev said that he was proposing a referendum, not establishing a political party.

Radev's proposal launched a number of comments from politicians and institutions.

Parliament Chair Nataliya Kiselova expressed hope that the referendum will be well motivated. On Saturday, she told reporters: "The way the question was presented, without reasoning, is controversial. Let us see what the motives are."

Prime Minister Rosen Zhelyazkov said in a Facebook post: "Bulgaria chose its European path of development long ago, making a valid commitment to participate in the monetary union with the ratification of the Accession Treaty and its entry into force." He pointed out that a legitimately elected parliament adopted all the necessary decisions for joining the euro area and that in 2024, the Constitutional Court ruled firmly that holding a referendum on the adoption of the euro was constitutionally impermissible.

Deputy Prime Minister and Minister of Innovation and Growth Tomislav Donchev called Radev's proposed referendum "an investment in the division of the already divided Bulgarian society" during an interview for bTV.

Sofia Mayor Vassil Terziev said those in power tend to play with people's fears, as they find it easier to govern by exploiting others' fears and by employing propaganda.

GERB leader Boyko Borissov echoed Zhelyazkov's statement that such a referendum would be unconstitutional.

Continue the Change (CC) published a statement, according to which no referenda can be held on international treaties that have already been ratified. According to CC, the President has no power to impose such a referendum, and doing so is acting against the Bulgaria's strategic interests.

Vazrazhdane leader Kostadin Kostadinov posted in Facebook: "The Bulgarian President, albeit late, heeded the calls of Vazrazhdane and the moods of the vast majority of the Bulgarian people and said he would submit a request for a referendum to preserve the Bulgarian lev. We, of course, support this."

The Movement for Rights and Freedoms - New Beginning quoted their leader, Delyan Peevski, who called Radev unjustified.

BSP - United Left came out with a statement that such a referendum would be unconstitutional considering the Constitutional Court's decision from February 8, 2024.

Democracy, Rights and Freedoms Floor Leader Dzhevdet Chakarov said: "Our comment and choice in favour of the euro was made 35 years ago. Our Euro-Atlantic orientation was definitive both when we were in government and when we were in opposition."

There Is Such a People leader Slavi Trifonov wrote in Facebook that the President has the right to initiate such a referendum according to the Constitution.

MECh Chair Radostin Vasilev backed Radev's decision while calling it slightly delayed.

Velichie Floor Leader Ivelin Mihaylov called Radev's decision "the only legitimate move".