Thousands Protest Bulgaria's Euro Adoption and Call for a Referendum
Days before Bulgaria was expected to become the 21st member of the eurozone, opponents of the move geared up Saturday for a final battle to change the schedule.
Thousands of protesters gathered on a central square in downtown Sofia to protest government plans to adopt the euro and to demand a referendum on the new currency. The European Union has given the green light for Bulgaria to adopt the euro starting Jan. 1, 2026. The protesters, led by civic groups, nationalist and pro-Russian parties known for their opposition to the euro, declared that after the rally they intended to set up a tent camp on the central square, dubbed 'Town of the lev,' after the name of the national currency. On a platform for speakers hung a huge banner that read 'The battle for the Bulgarian lev is the last battle for Bulgaria.'
The leader of the pro-Russian Vazrazhdane party, Kostadin Kostadinov, told the protesters that the country will be stripped of its currency. 'Someone else will decide how we spend our money; the Bulgarian budget will be approved by the European Central Bank,' he said. 'This is an anti-state coup; this is treason.' Kostadinov announced that lawmakers from Germany, Lithuania, Romania, the Czech Republic, Slovakia, and Hungary have joined the event to support the protest.
Ahead of the demonstration, Vazrazhdane submitted in Parliament a motion for a vote of no confidence in the current government, accusing it of failing to undertake necessary reforms to restore stability to public finances and working for the forceful adoption of the euro. Parliament will vote on the motion next week, but the pro-EU government coalition is expected to survive.
The Balkan country joined the European Union in 2007 and is now on the final stretch of its accession to the eurozone. The last institutional hurdle is the approval from both the European Parliament in Strasbourg and the Economic and Financial Affairs Council in Brussels, scheduled for July 8. These steps come after the European Council gave its clear endorsement of Bulgaria joining the eurozone on Jan. 1, 2026.
During its almost two-decades-long EU membership, Bulgaria has been plagued by political instability and corruption that have fueled euroskepticism among its 6.4 million citizens. Now, scores of false claims by opponents of the eurozone have been published on social networks, feeding fears of economic changes that they say could bring more poverty. Economists say joining the euro will not bring massive change to Bulgaria's economy in the short run. That's because the government has pegged the currency to the euro by law at a fixed rate of 1 lev for every 51 euro cents.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Asharq Al-Awsat
an hour ago
- Asharq Al-Awsat
Germany Seeks Israeli Partnership on Cyberdefense, Plans 'Cyber Dome'
Germany is aiming to establish a joint German-Israeli cyber research center and deepen collaboration between the two countries' intelligence and security agencies, German Interior Minister Alexander Dobrindt said on Sunday. Germany is among Israel's closest allies in Europe, and Berlin has increasingly looked to draw upon Israel's defense expertise as it boosts its military capabilities and contributions to NATO in the face of perceived growing threats from Russia and China. "Military defense alone is not sufficient for this turning point in security. A significant upgrade in civil defense is also essential to strengthen our overall defensive capabilities," Dobrindt said during a visit to Israel, as reported by Germany's Bild newspaper, Reuters reported. Dobrindt, who was appointed by new German Chancellor Friedrich Merz last month, arrived in Israel on Saturday. According to the Bild report, Dobrindt outlined a five-point plan aimed at establishing what he called a "Cyber Dome" for Germany, as part of its cyberdefense strategy. Earlier on Sunday, Bavarian Prime Minister Markus Soeder called for the acquisition of 2,000 interceptor missiles to equip Germany with an "Iron Dome" system similar to Israel's short-range missile defense technology.
Arab News
an hour ago
- Arab News
MWL chief discusses fatwa unity, youth guidance in London
RIYADH: The Islamic Center in London hosted a meeting between Muslim World League Secretary-General Dr. Mohammed bin Abdulkarim Al-Issa and Islamic leaders from across the UK this week. The discussion focused on the need for wisdom in guiding Muslim communities, especially in the face of provocation by extremists. Speakers stressed the importance of responding with calm and restraint, following the Prophet's example of mercy and patience. Al-Issa highlighted the need for unified religious authority in issuing fatwas and public religious guidance. He announced that the MWL-affiliated Islamic Fiqh Council — a leading body in Islamic jurisprudence — would soon hold a forum at the center to discuss the jurisprudence of Muslim communities. The forum will also explore the creation of a reference framework for this jurisprudence, to be updated as needed. It will review training programs and initiatives in the UK aligned with the Charter of Makkah and propose its inclusion in Islamic education curricula. Al-Issa emphasized protecting Muslim youth from extremist ideologies, noting the family's role, the importance of balanced religious education, qualified teachers, and effective use of platforms such as sermons and lectures. He praised the British Muslim community's awareness and commitment, describing it as a positive example of Islamic values in a diverse society. The meeting included questions and feedback, with attendees expressing support for the MWL's global work. They welcomed Al-Issa's visit, especially given the current context, and appreciated his approach to addressing Islamophobia. Participants also backed the league's efforts to unify local religious authority, citing its success in other minority communities. They viewed this as a long-awaited step, and said that Al-Issa's message strengthened trust in the MWL's mission of promoting social cohesion and peaceful coexistence, values rooted in Islamic teachings.
Arab News
4 hours ago
- Arab News
EU must be more assertive with Israel: Ex-foreign policy chief
LONDON: The EU must adopt a more assertive posture against Israel over its violations of international law in Gaza, Josep Borrell, the bloc's former foreign policy chief, has said. In an article for Foreign Affairs magazine, Borrell argued that the EU has a 'duty' to intervene over the humanitarian catastrophe in the Palestinian enclave, The Guardian reported. Rather than relying on the US to bring an end to the war, Europe must launch its own plan, he said. The article was co-authored with Kalypso Nicolaidis, a Franco-Greek academic who has advised the EU. 'Europe can no longer afford to linger at the margin. The EU needs a concerted plan,' the two authors said. 'Not only is Europe's own security at stake, but more important, European history imposes a duty on Europeans to intervene in response to Israel's violations of international law. 'Europeans cannot stay the hapless fools in this tragic story, dishing out cash with their eyes closed.' Borrell's successor, Kaja Kallas, said last week that it was 'very clear' Israel had breached its human rights commitments during its war on Gaza. However, the 'concrete question' remains the choice of action EU member states can agree on in response, she added. Last month, 17 EU member states, in protest against Israel's blockade of humanitarian aid to Gaza, triggered a review of the bloc's association agreement with Israel, which covers trade and other cooperation. Borrell last month accused Tel Aviv of 'carrying out the largest ethnic-cleansing operation since the end of the Second World War.' Europe's inconsistent response to the humanitarian crisis can be partly explained by the reluctance of some countries — including Germany, Hungary and Austria — to take action against Israel for historical reasons, Borrell and Nicolaidis wrote. Yet there are ways for other EU member states to take action without requiring a continent-wide consensus, they said, highlighting the EU's financial leverage and the utility of European programs for Israel, including the Erasmus student exchange scheme. EU member states could also invoke Article 20 of the EU's treaty to 'allow for at least nine member states to come together to utilize certain foreign policy tools not related to defense,' they wrote. 'Because such an action has never been taken before, those states would have to explore what (it) … would concretely allow them to do,' the Foreign Affairs article said. The EU has been rendered ineffective in applying pressure due to disunity, the two authors said, arguing that the bloc should act as a powerful mediator in the Middle East. 'Some EU leaders cautiously backed the International Criminal Court's investigations, while others, such as Austria and Germany, have declined to implement its arrest warrants against Israeli officials,' they wrote. 'And because EU member states, beginning with Germany and Hungary, could not agree on whether to revisit the union's trade policy with Israel, the EU continues to be Israel's largest trading partner. 'As a result, the EU, as a bloc, has been largely relegated to the sidelines, divided internally and overshadowed in ceasefire diplomacy by the US and regional actors such as Egypt and Qatar. Shouldn't the EU also have acted as a mediator?'
